🕐22.10.09 - 07:38 Uhr
COMPLETION OF $2.5 MILLION RIGHTS ISSUE
TARGET ENERGY ASX ANNOUNCEMENT
The Directors of Target Energy Limited ("Target"; ASX:TEX) are pleased to
advise the successful conclusion of the Companys 2 for 5 Rights Issue.
In
all, 76% (33.9 million) of the shares and free attaching options on offer
were subscribed for.
The remaining shares on offer will be taken up by the
underwriter, Patersons Securities Limited, for a total raising of
approximately $2.5 million before issue costs.
Highlights
Strong support for Targets exploration strategy.
Substantial take up by major shareholders.
Funds raised will underpin the drilling of the Highway 71 prospect and will
support Targets ongoing additional exploration and development programs.
Targets Managing Director, Mr Laurence Roe, said the Company was very
pleased to receive such a strong vote of support from shareholders as it
continues to pursue its active and successful programs.
About Target Energy:
Target Energy Limited is an Australian petroleum exploration and production
company based in Perth, Western Australia which listed on the Australian
Stock Exchange on 27 November 2006.
For further information please contact:
Laurence Roe
Managing Director
Target Energy
Tel: +61 8 9476 9000
Karen Oswald
Professional Public Relations
Tel: +61 8 9388 0944
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