$30.8m at 16c.EEG is Australian oil and gas company holding 100% owned andoperated assets with shale gas targets in located onshore Northern TerritoryBeetaloo Sub-basin and central trough of the McArthur Basinc.
This deal comes on the back of yesterday’s news that EEG hascompleted the sale of its US assets for US$9.1m. Followingcompletion of the sale, upfront cash proceeds of US$5.9 million were receivedby EEG and the existing US Macquarie Bank loan of ~US$4.6 million was repaid infull.
Cornerstone support hasbeen obtained from US investors including binding commitments of:
· US$5M from Bryan Sheffield,who was previously Chairman, CEO and Founder of Parsley Energy Inc., a majorindependent shale player in the Permian Basin, Texas.
· US$5M from Liberty Energywho specialises in hydraulic fracturing services and will bring their knowledgeand expertise to Empire’s Carpentaria project.
o Each of Sheffield and Liberty Energy have signed royalty deeds(each royalty deed entailing a 2.25% overriding royalty interest over EP187 forconsideration of US$2.5 million each). Royalty is calculated in accordance withthe NT Government net-back with deductions limited to 30% of gross revenue.
Verbal commitments from major Australian and US institutions havealso been received pre-launch, so I suspect the book is fully covered. Clearlythere is plenty of interest in the Australian shale assets.
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Mkt cap ! $249.2M |
Open | High | Low | Value | Volume |
24.5¢ | 26.0¢ | 24.0¢ | $7.458M | 30.43M |
Buyers (Bids)
No. | Vol. | Price($) |
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4 | 75210 | 25.0¢ |
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Price($) | Vol. | No. |
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26.0¢ | 97727 | 4 |
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No. | Vol. | Price($) |
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4 | 75210 | 0.250 |
2 | 274334 | 0.245 |
4 | 35905 | 0.240 |
1 | 100000 | 0.230 |
3 | 117037 | 0.220 |
Price($) | Vol. | No. |
---|---|---|
0.260 | 97727 | 4 |
0.265 | 14176 | 3 |
0.270 | 75270 | 3 |
0.275 | 434686 | 1 |
0.280 | 74193 | 3 |
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