(MENAFN- ProactiveInvestors - Australia) Raisama Energy (ASX: RAI) has seen a general uptick in its shares since announcing a strategic investment by the Albers Group on 31 January 2013.
Shares are currently trading at A$0.032 this morning, up 28% from the close of $0.025 on 30 January 2013 and 18.52% from open today.
Volumes have also been high, with just under 3 million shares trading hands today and about 19.8 million shares traded yesterday.
The Albers Group, which is led by oil and gas veteran Geoff Albers, had agreed to subscribe for $3 million worth of Raisama shares.
Albers has already taken up the first 76.2 million shares priced at $0.015 each, or $1.14 million, and pending approval by Raisama's shareholders, will subscribe for the second tranche of 92.8 million shares at $0.02.
Raisama will use proceeds from the placement to continue its exploration program at its highly prospective South Block A project in Indonesia, whilst maintaining its interest in the Palawan Basin in the Philippines, and pursue new venture opportunities.
The company is planning to shoot 2D seismic in South Block A before starting drilling in the first quarter of 2014.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.