Orion Project Joint Venture completed the acquisition and workover of the Mitchell well (and associated “held by production” acreage) in the SWISH AOI, the second acquisition for the Joint Venture
•Successful capital raising initiatives launched during the quarter and subsequently closed, resulting in proceeds before costs of $1,687,493, significantly strengthening the Company’s balance sheet and providing important working capital to be deployed inthe Orion Project Joint Venture and SWISH AOI lease renewal and extension program
•Agreement reached to extend the maturity date of the Anadarko Leasing Facility to 31 July 2021 and to satisfy interest payments through to 31 December 2020 via the issue of share and options in the Company
•Appointment of Gracjan Lambert as Executive General Manager Commercial, working alongside Managing Director, David Prentice in a new role that extends across strategy, business development, commercial activities, and corporate affairs
•Oil and gas production and sales continued during the quarter with net volumes of 10,634 BOE (~116 BOE/day) and improved oil and gas prices delivering a strong recovery in net revenue (up ~200% quarter on quarter)
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- Ann: Quarterly Activities Report and Appendix 5B - September 2020
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