Uranium explorer Epsilon Energy Ltd has closed its initial...

Uranium explorer Epsilon Energy Ltd has closed its initial public offering early and oversubscribed.

The offer opened 10 days ago and raised $4 million through the sale of 20 million shares at 20 cents each, but Epsilon said it had received applications for more than $10 million worth of shares.

The company, which will start trading on the Australian Stock Exchange on December 12, has a portfolio of uranium projects covering about 8,851 square miles and the funds raised will be spent on exploration.

"Obviously there is a significant amount of investor interest in the uranium industry at present, which is driven, justifiably, by nuclear energy's emergence as an essential and growing component of global energy policy," managing Director Matt Gauci said

http://www.theage.com.au/news/Business/Epsilon-Energy-closes-IPO-early/2006/12/01/1164777774944.html#

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