High Peak Royalties Ltd (ASX:HPR) company generates revenue through royalties on oil & gas exploration, development and producing properties, a strategy that will be outlined at this month’s Proactive CEO Session in Melbourne.
The company’s chairman Andy Carroll will present at the Melbourne event on Tuesday, November 20, explaining how High Peak’s royalty investment model is attractive to investors.
High Peak is unique among ASX-listed companies, actively acquiring high-value royalties from resource projects.
These royalties mean investors benefit from receiving revenues from resource projects without the obligation to fund capital expenditure and no exposure to costs or operational problems.
The expanding and diversified portfolio of more than 20 oil & gas properties encompasses projects in key Australian and USA oil and gas basins.
The company has recently received commitments from sophisticated and professional investors to subscribe for up to 25 million shares at an issue price of 5 cents a share.
The $1.1 million capital raising will be used to pay down a portion of debt assigned to the company as part of its acquisition of Planet Gas USA Inc as well as to strengthen the balance sheet.
Directors of the company have also committed to subscribe for 2.9 million shares at the same issue price for a total of $145,000.
Oil & gas industry experience
Carroll is well qualified to serve as company chairman as he has more than 30 years of international oil and gas experience and is a member of the Society of Petroleum Engineers.
He originally trained with BP and has held a range of board, senior management and consultancy roles with oil and gas companies including BP, Dome Petroleum, Amoco Canada, Ampolex and InterOil.
As well as being High Peak’s chairman, Carroll is a director of Mosman Oil And Gas Limited and Australian Petroleum Portfolio and provides consultancy services through his company, Australasian Energy.
Register for the CEO Session today to find out more.
Also featuring in Melbourne will be Great Boulder Resources (ASX:GBR).