Bass Oil Ltd (AU:BAS) has released an update.
Bass Oil Ltd has secured A$1.1 million in funding through a placement primarily to a major institutional investor and is offering a Share Purchase Plan to raise an additional A$2 million, with a focus on expanding its oil and gas development in Australia. The funds will accelerate initiatives such as the evaluation of the PEL 182 Deep Coal Seam Gas play and other promising oil projects. The capital raise comes at a discount to recent trading prices, reflecting confidence in Bass Oil’s strategic growth potential.
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