Black Mountain Energy to list IPO. It has received an export exemption from the WA government in return for agreeing a domestic gas commitment. There is only handful of companies to get exemption. The business is developing the Valhalla shale gas project in Western Australia and raising a minimum of $11 million, and will list with a market capitalisation of at least $51 million.
Black Mountain Energy acquired the Valhalla assets from Mitsubishi in 2019. Mitsubishi was exiting all of its oil and gas assets, but until this time it had invested around $US200 million in the project.
