This is for the people who haven't subscribed to Target Energy's mailing list.
The Email states the following (enjoy the read):
Dear Shareholder,
As you know our rights issue closes at 5pm WST on Monday, 19 October 2009. While most of the buying is channelled into the rights issue, the share price in the market is holding at 5.5 cents (yesterday's close). The one for one free attaching option is now listed under the ASX code TEXOB and is currently strongly bid up to 1.1 cents. The oil price continues its strong run and was at US$78 this morning. As per the announcement issued by the Company on 13 October 2009, Target increased its interest in East Chalkley Oil Field increasing its reserves and expects to spud the exciting Highway 71 prospect which will target 67.5Bcf of gas and 1.1 million barrels of condensate in about 10 days, on or about 26 October.
We strongly encourage you to participate in the rights issue which closes at 5pm WST on Monday, 19 October 2009. Please note that shareholders can apply and pay by BPay using the reference code on their personal entitlement form. Valid applications received prior to the closing date will be accepted. Shareholders can apply for their entitlements and for additional shares. The issue is fully underwritten by Patersons Securities Limited.
Yours faithfully
Laurence Roe Managing Director 16 October 2009
TEX Price at posting:
5.4¢ Sentiment: LT Buy Disclosure: Held
