Emperor has upstream and downstream assets in Australia. The company’s asset Vic/P47 is in the Gippsland basin next to the ExxonMobil Kipper field.
Australia's Emperor Energy raises A$1.12mn
Australia’s oil and gas company Emperor Energy has raised A$1.12mn ($0.75mn) through the issue of 35mn new fully paid ordinary shares, it said on October 25.
“The net proceeds of the placement strengthen the company’s balance sheet and provide important funding to company exploration activities,” Emperor said.
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The new shares will be issued on or around October 28 subject to receipt of funds. The issue price of 3.2 cents/share represents a discount of 17.9% to the company’s 15-day average.