12/03/2013 - 15:25

Strata-X makes solid start on ASX

12/03/2013 - 15:25

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Strata-X makes solid start on ASX

Oil and gas explorer Strata-X Energy has made a successful debut on the ASX, closing its first day of trade 5 cents over its issue price.

Strata-X raised $12.7 million through the issue of chess depositary interests, priced at 30 cents each.

At close of trade today, the company’s stock was trading at 35 cents, with more than 500,000 securities changing hands.

The listing is the 21st listing for Perth and the 57th nationwide this financial year.

Strata-X holds a portfolio of petroleum projects in the US states of Colorado, Texas, California, North Dakota and Illinois, as well as a large area in Western Australia’s Canning Basin.  

The company plans an extensive drilling program over 2013 to evaluate the resource potential of its landholdings.

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