Oil Basins (ASX:OBL) is raising $235,000 through a placement for general working capital and to maintain its leverage to attractive oil and gas assets within its portfolio.
The placement of 47 million shares priced at $0.005 each was made to existing sophisticated investors.
Recently, the company received approval to vary the fifth year work program for VIC/P47 in the Gippsland Basin offshore Victoria and increased resources at the Greater Cyrano Oil Field by 28% to 13.4 million standard tank barrels.
Rey Resources (ASX:REY) is also poised to become the company’s new partner at petroleum exploration licence EP487 (Derby Block) in the Canning Basin, Western Australia, by acquiring Backreef Oil’s 50% stake.
The Derby Block covers 5,000 square kilometres and is considered to be prospective for hydrocarbons.
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Last
5.4¢ |
Change
-0.002(3.57%) |
Mkt cap ! $44.84M | |||
| Open | High | Low | Value | Volume |
| 5.6¢ | 5.6¢ | 5.1¢ | $135.1K | 2.541M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 250000 | 5.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.4¢ | 385906 | 1 |
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| Last trade - 16.10pm 16/09/2025 (20 minute delay) ? |
| EMP (ASX) Chart |