Golden Gate Petroleum plans to raise up to $6.32 million through a share purchase plan, with funds to go towards ongoing development work at its Bullseye oil project in the United States.
West Perth-based oil and gas player Golden Gate Petroleum Ltd has agreed to place 24.7 million shares at 21 cents each to raise $5.2 million to advance its Bullseye and Wilcox projects in the United States.
Oil and gas explorer Golden Gate Petroleum Ltd will raise $4.1 million to repay debt and fund drilling exploration on Padre Island and in particular the drilling of Plum Deep in Texas on the Gulf of Mexico coastline.
