Rationale for the Placing and Use of Proceeds
The proceeds of the Placing, together with the Company's existing cash reserves, will be used to fund the ongoing evaluation of the conventional and unconventional prospectivity of the Company's existing assets, including any potential costs in respect of the Charlie-1 well which is due to be drilled in Q1 CY2020, and to enable it to identify and exploit new opportunities on the North Slope of Alaska.
This will include strengthening the Company's balance sheet and to provide the Company with sufficient capital to:
· fund potential costs of the Charlie-1 above the Premier Oil carry;
· fund lease rental payments due on Alaskan acreage;
· fund interest payments due on the Company's debt facility;
· fund new venture opportunities; and
· finance the Company's ongoing working capital requirements and general and administrative overheads.
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Mkt cap ! $57.78M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.2¢ | $4.622K | 1.958M |
Buyers (Bids)
No. | Vol. | Price($) |
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277 | 309173830 | 0.2¢ |
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Price($) | Vol. | No. |
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0.3¢ | 625028788 | 229 |
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No. | Vol. | Price($) |
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1 | 150000 | 0.003 |
277 | 314105487 | 0.002 |
290 | 975720167 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.002 | 125000 | 1 |
0.003 | 696256727 | 223 |
0.004 | 300420254 | 113 |
0.005 | 79834762 | 58 |
0.006 | 34085906 | 34 |
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THE CALMER CO INTERNATIONAL LIMITED
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