TEX target energy limited
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News: Target Energy on road to capital raising

  1. Proactive
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    01/04/15
    16:12
    Post #: 15021356

    US-focused oil and gas producer Target Energy (ASX:TEX) has been granted a trading halt by the ASX, pending the release of capital raising details.

    Target has been active at its Fairway Project in the Permian Basin since 2011.

    During that time, it has drilled 15 wells and built up a 55% working interest in 4,483 acres for a net acreage position of 2,479 acres.

    Average gross production in the December quarter of 2014 was 224 barrels of oil equivalent per day (BOEPD).

    The halt will remain in place until the opening of trade on Tuesday 7th April 2015, or earlier if an announcement is made to the market.

     

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