Antares Energy raises $19.2m

West Perth-based Antares Energy says it received strong demand for its book build process which raised a total of $19.2 million.

The oil and gas explorer said it had sought to issue 30 million shares to raise the capital through a share placement, with Patersons Securities managing the book build.

Shares were priced at 64 cents each.

Antares said strong demand had resulted in a very significant scale back of applications.

Shares in the company climbed one cent to 71c at 14:23 AEDT.

Antares is focused on the Texas gulf coast region of the US.