$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.
- Forums
- ASX - By Stock
- Ann: Trading Halt
$30.8m at 16c. EEG is Australian oil and gas company holding...
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EEG (ASX) to my watchlist
|
|||||
Last
26.0¢ |
Change
0.005(1.96%) |
Mkt cap ! $264.4M |
Open | High | Low | Value | Volume |
27.0¢ | 27.0¢ | 25.0¢ | $176.1K | 678.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 11304 | 26.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.0¢ | 117500 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 63596 | 0.250 |
1 | 250000 | 0.245 |
2 | 18440 | 0.240 |
2 | 48307 | 0.235 |
3 | 68143 | 0.230 |
Price($) | Vol. | No. |
---|---|---|
0.270 | 117500 | 4 |
0.275 | 434686 | 1 |
0.280 | 14193 | 2 |
0.285 | 11000 | 1 |
0.290 | 111893 | 3 |
Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
Featured News
EEG (ASX) Chart |