https://www.engineeringnews.co.za

Warrego raises A$32m

14th October 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Warrego Energy has raised A$32-million through a two tranche share placement to fund drilling at the West Erregulla gasfield, in the Perth basin.

The first tranche of the share placement consisted of 124-million shares, placed at a price of 21c each under the company’s existing placement capacity, to raise an initial A$26-million.

A second tranche placement of 28.6-million shares, to raise a further A$6-million, will be subject to shareholder approval at a meeting scheduled for November 25.

“Strong support from institutional investors is indicative of the confidence in Warrego’s business strategy and future growth potential following the recent announcement of a landmark gas sales agreement and joint venture alignment. We are looking forward to the results from the current drilling campaign which have the potential to further enhance our view of West Erregulla’s reserves and resources,” said Warrego MD and group CEO Dennis Donald.

Warrego and joint venture partner Strike Energy recently inked a binding heads of agreement for the joint development of West Erregulla, which provides a pathway for the Phase 1 development of the project, including gas processing and plant capacity, gas balancing and sales, and optimisation of timing and alignment of critical activities including a final investment decision and the current appraisal of drilling campaign.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 
Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.048 1.022s - 140pq - 2rq
Subscribe Now