(MENAFN- ProactiveInvestors)
US-focused oil and gas producer () 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 4483 acres for a net acreage position of 2479 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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