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Coretrack float raises $3.1m

CORETRACK Ltd’s float closed oversubscribed ahead of its listing this week. The Perth-based operation raised $3.1 million to further develop its oil and gas drilling technology based on local and international patents for a core barrel capacity gauge, which is expected to improve the accuracy of sample taking during exploration. Another company hitting the boards soon is coal seam gas group Pure Energy Resources Ltd. It plans to list in mid-September after closing its $5 million float oversubscribed last week. Pure Energy said this result reflected the high level of interest in alternative energy companies offering cleaner, cost-effective energy options.

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