Leslie Peterkin, Chief Executive Officer of Advance Energy,...

Leslie Peterkin, Chief Executive Officer of Advance Energy, commented:
"We're delighted to have completed this Placing, and we thank our new and existing shareholders for their belief in the Company and the investment opportunity we presented to them. The fundraise enables the completion of the transformative transaction with Carnarvon Petroleum and we can now look forward with confidence to the exciting B-10 appraisal well later this year which represents a material value catalyst for Advance Energy and its shareholders.
"The Buffalo PSC has the potential to deliver significant production and associated cash flow, with exceptional rates of return. The Board considers this project to be the ideal launchpad for our longer-term strategy, which focuses on achieving scale and generating shareholder returns.
"On behalf of the Board, I would like to welcome Stephen and Larry to Advance Energy, and we look forward to benefitting from their experience and insights going forward.
"The Company has a big year ahead and we look forward to updating the market as we deliver operational and corporate milestones."