Raisama relists, opens finance facility

Exploration firm Raisama has relisted on the Australian Securities Exchange after the successful completion of its acquisition of Peak Oil & Gas.

Raisama has also announced a new $20 million finance facility with UK-based investment firm Global Emerging Markets.

The facility will provide additional funding to first oil production from its Cadlao oil development in the Philippines.

Raisama said it had also received offers for production finance facilities that match its funding obligations for Cadlao.

Raisama executive chairman David Berrie said the company now had the financial capacity to achieve first oil from Cadlao.

"We believe that the equity facility agreed is flexible, aligned with shareholder interests and that GEM's commitment is an endorsement of both the Cadlao project and our diversified business model," Mr Berrie said.

"Based on Raisama's most recent share price, we believe there is considerable potential for re-rating as the company moves towards first revenue and becomes one of Australia's mid-tier energy companies with oil and gas production."