News listings
Equatorial Guinea Licence Round

energy-pedia general news

Australia flagAustralia

Central & SE Asia / Australasia >>> Australia

Australia: Blue Energy completes successful capital raising to fund North Bowen Basin gas projects

13 Jun 2019

Photo - see caption

Australia's Blue Energy has announced the successful completion of an over-subscribed $4.2million placement to institutional and sophisticated investors comprising approx. 93,333,333 shares at $0.045 per share.

The Placement received strong support from institutional shareholders and sophisticated investors. The purpose of the Placement is to access additional funding to advance Blue Energy’s gas projects and activities primarily in the North Bowen Basin and to prosecute the case to develop and connect this large basin-wide gas resource of up to 15,000 PJ of resource to the east coast gas network andindustrial gas users. The net proceeds of the Offer and existing cash will be used for:

  • Pipeline route studies for the recently awarded PSL 2037 (Pipeline Survey Licence –See Map);
  • Progression of Production Licenceapplications for ATP 814;
  • Power generation grid studies in the Hillalong blockof ATP814;
  • Flexibility for potential drilling activity in ATP 814 or orATP854 in the SuratBasin;
  • General permit portfolio exploration and appraisalincluding the Northern Territory; and
  • General corporate and working capital purposes.
Photo - see caption
Blue Energy’s North Bowen Basin Gas Assets and Pipeline Survey Licence location

Commenting on the outcome of the Placement, Managing Director John Phillips said:

'These funds will allow Blue to continue the push for the development of the North Bowen Basin gas resources to be connected to the East Coast market and alleviate the persistent supply shortages for Industrial gas users, which Federal and State Governments, together with the ACCC, are seeking to resolve.'

Bell Potter Securities acted as Lead Manager and Bookrunner for the Placement.

Original article link

Source: Blue Energy

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current deals: 1688
Completed deals: 5158

Company Profiles

Current Company Profiles: 2634

Corporate Activity

Current Corporate Activity articles: 3255

Companies Looking

Current number of articles: 425

Company Sales

Current Company Sales articles:1348


Current Geostudies articles: 633

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Union Jack Oil 149
KL Publishing
RSK Logo 149
EP Consult Energies
count geophysics
Government of South Australia
Lynx Information Systems
SLR Consulting logo
Rose & Assocs 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675