Botala Energy Secures AU$3.0 Million to Fully Fund Near-Term Gas Drilling and Testing
Botala Energy Ltd (ASX: BTE) has received firm commitments to raise AU$3.0 million through an oversubscribed placement priced at AU$0.05 per share, attracting strong support from new and existing sophisticated investors. The funding fully finances drilling and flow testing of Serowe-3.5B, Botala’s first targeted commercial production well, which is scheduled to commence this quarter at the Serowe Coal Bed Methane Project in Botswana. Proceeds will also support maiden reserve certification, advancement of the Bankable Feasibility Study, and progression of a proposed project investment of approximately AU$4.0 million from the Minerals Development Company of Botswana. Board participation of AU$1.2 million remains subject to shareholder approval. The placement positions Botala to progress the Pitse Pilot as the first stage of its CBM-to-LNG strategy, with commercial gas flows expected to materially de-risk the project.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Botala Energy Secures AU$3.0 Million to Fully Fund Near-Term Gas Drilling and Testing
Botala Energy Ltd (ASX: BTE) has received firm commitments to raise AU$3.0 million through an oversubscribed placement priced at AU$0.05 per share, attracting strong support from new and existing sophisticated investors. The funding fully finances drilling and flow testing of Serowe-3.5B, Botala’s first targeted commercial production well, which is scheduled to commence this quarter at the Serowe Coal Bed Methane Project in Botswana. Proceeds will also support maiden reserve certification, advancement of the Bankable Feasibility Study, and progression of a proposed project investment of approximately AU$4.0 million from the Minerals Development Company of Botswana. Board participation of AU$1.2 million remains subject to shareholder approval. The placement positions Botala to progress the Pitse Pilot as the first stage of its CBM-to-LNG strategy, with commercial gas flows expected to materially de-risk the project.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au