Otto, Metex in trading halts

West Perth based Otto Energy Ltd and mineral exploration company Metex Resources have both entered trading halts, pending an announcement due to be made on Friday.

This follows news last week of Metex securing $11 million through a share placement with chemical and fertilizer group Incitec Pivot Ltd.
IPV agreed to subscribe for 55 million shares in Metex at 20 cents per share, allowing Metex, soon to be renamed Carbon Energy Group, to move forward on its Underground Coal Gasification venture in Queensland.
Also trade in shares in Beadell Resources have been halted.