TEXAS ACQUISITIONS SIGNAL TRANSFORMATION
• Acquisition of Foothills Resources Inc and Magnolia/Burnett Assets
• Deals deliver 550 net boepd/ 6.5 million barrels additional 2P oil and gas reserves
• Attractive acquisition price less than half PV 10 value
• CY19 EBITDA estimated to increase to US$12m with low capex spend
• Total AU$7m equity secured via $4m oversubscribed placement completed and underwritten $3m rights issue
• Major US-based private credit fund provided a non-binding term sheet for a US$17m debt facility closing August 201
Ann: Texas Acquisitions Signal Transformation, page-2
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