News and Announcements
IPB Petroleum – IPO Open (PROPOSED ASX CODE: IPB)
- Published April 08, 2013 4:00PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
IPB Petroleum is an Australian, conventional offshore oil exploration company currently floating on the ASX. The Company has built a strategic position with high equity along what it believes to be a potential new oil fairway along the southern margin of the Browse Basin offshore North West Australia.
IPB has a strong board and management team, ex BHP all with experience in offshore oil and gas exploration and development in North West Australia.
IPB’s IPO opened Tuesday 12th March raising a minimum of $2.5m at an approximate $50m post IPO value.
IPB has over 500MMbbls of mean prospective oil resource (unrisked), implying a Market Capitalisation of only 10 cents a barrel at this particular resource level.
The Company advises that the Closing Date of the Offer has been extended by two weeks from 5 April 2013 to 19 April 2013.
To read the full announcement please download the document below.
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