Ann: Zeta Petroleum PLC - Replacement Prospectus , page-11

re: Ann: Zeta Petroleum PLC - Replacement Pro... Zeta Petroleum aims to rapidly commercialise advanced Romanian gas assets
Wednesday, May 23, 2012 by Proactive Investors
Freshly minted IPO Zeta Petroleum is set to fast track commercialisation of its advanced Romanian gas assets, providing a springboard for investors for value creation. Zeta Petroleum’s (ASX: ZTA) successful A$8.35 million initial public offering has given it the springboard to develop advanced and highly prospective oil and gas assets in Romania and expand into Eastern Europe.

Proceeds from the IPO will fund development of highly prospective Romanian oil and gas assets, and leverage near term and future cash flow for the development of oil and gas assets that may be acquired in onshore Eastern Europe.

Zeta will hit the ASX boards at 12.30am AEST on Wednesday 23rd May 2012.

Zeta’s flagship asset is the Bobocu Gas Field, which is a historic gas field that produced 33 billion cubic feet (Bcf) of gas, and where updated technical studies have identified mean contingent gas resources of 44.8Bcf or 7.71 million barrels of oil equivalent (MMboe), and an additional mean prospective gas resource of 68.73Bcf or 11.82MMboe.

The Company has proposed a 6 well development program that will commence with the drilling of the first Bobocu well (Bobocu 310).