88 Energy

Perth-based resources juniors Rico Resources and Tangiers Petroleum have announced plans to boost their coffers, launching capital raising initiatives worth nearly $12 million combined.

Several WA-based juniors are working to ensure they are the ‘next big thing’ in oil and gas.

Tangiers Petroleum has announced a $5.8 million share placement to assess growth opportunities in Africa, including potential farm-in deals and acquisitions.

Tangiers Petroleum is to acquire Jacka Resources via a friendly off-market takeover bid, combining to create an Africa-focused upstream oil and gas company valued at about $80 million.

Tangiers Petroleum's friendly takeover bid for Jacka Resources appears to be in doubt following the resignation of Tangiers executive chairman Eve Howell, citing the loss of support of several major shareholders.

Jacka Resources says it hasn't given up hopes of a potential friendly takeover by Tangiers Petroleum, despite terminating a bid implementation agreement for the deal.

Cash strapped Jacka Resources has appointed two broking firms to assess capital raising options after confirming that a friendly takeover offer from Tangiers Petroleum looks set to fail.

Jacka Resources has launched a $3.9 million capital raising and will review its operations and restructure its board in a bid to cut costs following Tangiers Petroleum’s failed takeover of the company.

David Wall has been appointed managing director of Tangiers Petroleum.Mr Wall has been an oil and gas equity analyst for the past six years, most recently at Argonaut and before that at Hartleys. 

Shares in Perth-based oil and gas explorer Tangiers Petroleum have closed lower after the company announced plans to launch a heavily discounted $5 million share placement.

Shares in Perth-based oil and gas explorer Jacka Resources have been hammered in their first trade on the ASX in more than three months.

Tangiers Petroleum has completed its second capital raising for the month after receiving "strong, unsolicited demand" from major investors.

Oil and gas explorer Tangiers Petroleum has raised $7 million in a discounted placement to complete its acquisition of the Icewine project in Alaska.

Local oil and gas explorer 88 Energy has received firm commitments for a $12 million capital raising to fund ongoing work at its Icewine project in Alaska.

Michael van Uffelen has been appointed as a non-executive director of Dragon Energy. Mr van Uffelen is the founder and director of Support Corp.  He has worked extensively with early stage companies and start-ups as director, CEO, CFO, corporate advisor and/or company secretary.

Shares in oil and gas explorer 88 Energy have surged after the company completed an oversubscribed $25 million capital raising to fund ongoing work at its Icewine project in Alaska.

Alaskan-focused oil and gas explorer 88 Energy has attracted two US-based investors for an $11 million capital raising to bolster its balance sheet.

Overland Resources Limited is pleased to advise that it has executed a Sale and Purchase Agreement with Peter Gianni to acquire a 100% interest in Exploration Licence Application 53/1971 for a total consideration of $10,000.  

Great Southern Mining has received commitments from sophisticated investors for the placement of 34 million shares at an issue price of $0.0375 a share to raise approximately $1.275 million. 

88 Energy has announced the sudden passing of non-executive director Brent Villemarette. Mr  Villemarette served on the board since 2010 and had been through several tumultuous periods with the company. He was credited as a key figure in the successful rebirth of the company.

88 Energy advises that the Non-Renounceable Rights Issue announced to the ASX on 3rd October 2018, closed on the 26th October 2018.

Our board moves wrap includes Sarah Smith, Terry Donnelly, Mark Hancock, Tony Sage, N Baijendra Kumar, Fiona van Maanen, Michael Jefferies, Trevor Benson, Francis Lim, Hao Wen, and Wing Kee Cheng.

Our board moves wrap includes Ashley Gilbert, Sarah Smith, Matthew Latimore, Hugh Callaghan, Andrew Haythorpe, Christiaan Jordaan, Ian Daymond, and Bryn Jones.