News and Announcements
Strategic Share Placement Divestment of 25% Derby Block to Octanex NL
- Published January 24, 2013 5:31PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
The Directors of Oil Basins Limited (OBL, ASX codes OBL and OBLOB, or the Company) are pleased to make the following ASX announcement.
As the Company anticipates that it will soon be awarded at least 50% of petroleum exploration permit 5/07-8EP (Derby Block), refer to Figures 1 & 2, OBL has arranged a modest capital raising, with the funds so raised to be used by OBL as general ‘top-up’ working capital and to assist the Company’s initial funding of its interest in the Derby Block.
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