Shares in oil and gas explorer 88 Energy have surged after the company completed an oversubscribed $25 million capital raising to fund ongoing work at its Icewine project in Alaska.
Local oil and gas explorer 88 Energy has received firm commitments for a $12 million capital raising to fund ongoing work at its Icewine project in Alaska.
Shares in Perth-based oil and gas explorer Tangiers Petroleum have closed lower after the company announced plans to launch a heavily discounted $5 million share placement.
Jacka Resources has launched a $3.9 million capital raising and will review its operations and restructure its board in a bid to cut costs following Tangiers Petroleum's failed takeover of the company.
Cash strapped Jacka Resources has appointed two broking firms to assess capital raising options after confirming that a friendly takeover offer from Tangiers Petroleum looks set to fail.
Jacka Resources says it hasn't given up hopes of a potential friendly takeover by Tangiers Petroleum, despite terminating a bid implementation agreement for the deal.
Tangiers Petroleum's friendly takeover bid for Jacka Resources appears to be in doubt following the resignation of Tangiers executive chairman Eve Howell, citing the loss of support of several major shareholders.
Tangiers Petroleum is to acquire Jacka Resources via a friendly off-market takeover bid, combining to create an Africa-focused upstream oil and gas company valued at about $80 million.
Tangiers Petroleum has announced a $5.8 million share placement to assess growth opportunities in Africa, including potential farm-in deals and acquisitions.
Perth-based resources juniors Rico Resources and Tangiers Petroleum have announced plans to boost their coffers, launching capital raising initiatives worth nearly $12 million combined.
