FAR’s A$15M fund raising for East African oil and gas exploration draws strong interest.
FAR Limited (ASX: FAR) is confident of its plans to raise up to A$15 million to fund its oil and gas exploration program offshore Kenya.
The company said it had received offers for a multiple of the funds it is looking to raise through a placement of 280 million shares priced at A$0.043 each and a A$3 million share purchase plan to existing shareholders.
FAR said the placement will allow it to maintain its equity interest in Block L6 and L9, which are close to a string of recent major offshore gas discoveries.
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http://www.proactiveinve...ong-interest-27047.html
http://www.energy.eac.in...apc2003/contents/08.pdf
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