(MENAFN- ProactiveInvestors)
() is preparing to outline details of a capital raising.
The ASX has granted the company a trading halt with its shares placed in pre-open.
In March 2015 the company announced an agreement through which it secured rights to an 80% working interest (as Operator) in exploration permit WA-503-P from Ltd.
Consideration was nil in return for assuming ’s commitments pertaining to the permit.
Block WA-503-P is located offshore Western Australia within the Dampier Sub-basin.
The halt will last until the opening of trade on Tuesday 9th June 2015 or earlier if an announcement is made to the market.
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