$5m insto placement

Punters casting around for some high risk-high reward action among the junior oil stocks in response to the climb in the oil price to $US125 a barrel (Brent) may find that Pancontinental Oil & Gas fits the bill.
It went into a trading halt last week before the completion of a
$5 million institutional placement managed by Lodge Partners to keep things ticking over while its shot at some big-time oil off eastern Africa takes shape in the next year or so.
PCL has been active for a decade or so building its portfolio of frontier oil and gas exploration acreage, with most interest in its offshore Kenya areas, including the Mbawa Prospect. It has monster-sized potential. That potential - the drill bit is the ultimate test - has recently attracted the attention of two of the most respected independent oil explorers, US group Apache and British group Tullow.
Apache is farming in to the offshore Block L8, home to the Mbawa Prospect, taking a 50 per cent interest from Origin Energy which is reducing to a 25 per cent interest.



http://m.brisbanetimes.com.au/business/silver-is-the-new-gold-for-investors-20110410-1d9as.html



http://m.brisbanetimes.com.au/business/silver-is-the-new-gold-for-investors-20110410-1d9as.html