Petsec Energy Announces Rights Issue to Raise US$11 million

Source: www.gulfoilandgas.com 11/24/2016, Location: Middle East

Petsec Energy will undertake a non-renounceable entitlement offer or 'rights issue' to raise approx. $11 million. The offer is fully underwritten by Paradigm Securities, trading as Martin Place Securities.

Proceeds from the offer will be used by the Company to support its participation in the development of the Hummer gas/oil discovery in the Gulf of Mexico, USA, and the expected re-start of oil production from the Company’s An Nagyah Oilfield (Damis Block S-1) in the Republic of Yemen.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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