The facts on who funded the PEP 11 Drilling 2010/2011. "Advent...

The facts on who funded the PEP 11 Drilling 2010/2011.

"Advent Capital Raising Program Update"
Advent is continuing to work with Pareto Securities on its capital raising program. The Pareto Group is an independent investment bank based in Oslo, Norway, with international offices in Singapore and New York.
Pareto is highly ranked within the global energy financial sector and has over the last 3 years raised USD 25 billion for their clients. Pareto’s client base includes international oil and gas majors, independent E&P companies and oil service organisations.
Advent is an unlisted public company and is issuing 12 million shares in a book build process being managed by Pareto.
As previously advised, discussions with international companies have also involved equity stakes concurrent with a right of first refusal for LNG offtake at market prices. These confidential discussions have not reached a stage where they require disclosure to the market.
Discussions have been held with a range of international companies including GAIL and other substantial Indian companies as well as corporations from Europe and other Asian countries.
$22m Capital Raised in Advent
Companies involved in ownership of the PEP11 project have successfully completed significant capital raisings. Net capital raised by associated companies in the last twelve months is $40m. Capital invested into Advent to date is $22m.
These capital raisings have included $6m in the recent MEC rights issue in October 2010, $8m in the recent BPH Corporate Ltd (“BPH” or ASX: BPH) rights issue, $4.5m placement in MEC to Bob Healy and Assoc and $7m placement in Advent to the Talbot Group. These capital raisings have placed Advent in an excellent position to negotiate on farmin and equity positions." ASX release 8 November 2010.