News: WHL Energy: Investor update

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WHL Energy Limited (ASX:WHN) Managing Director David Rowbottam provides an investor update for the oil and gas explorer’s operations.

The company recently announced an entitlement offer with the issue price of $0.01 per new share, a significant discount to the 20 Day volume-weighted average price (VWAP).

Mr Rowbottam outlines how the company determined the price and says the new listed options seek to reward existing shareholders. 

WHL Energy’s two key assets are individually worth more than the company’s current valuation and Mr Rowbottam answers how to rationalise the disparity. 

Ahead of a decision on the La Bella farm-ins and the receipt of the Seychelles 3D seismic data Mr Rowbottam also explains why the company decided to raise new capital at this time. 

Mr Rowbottam provides detail on the potential to add new assets to the WHL Energy portfolio and reveals the company is reviewing several assets in Africa. 

Mr Rowbottam also updates shareholders on progress being made to the company’s overhead costs and shares WHL Energy’s immediate strategy.