Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • IPB Petroleum Gains RMB Resources As Substantial Shareholder 0 comments
    Apr 30, 2013 9:52 PM

    IPB Petroleum (ASX: IPB) has received a substantial shareholder notice from RMB Resources as it was an existing shareholder of the company before it listed on the ASX.

    RMB holds 5,464,500 shares, or a 5.53% interest in the company as the trustee for Telluride Investment Trust and other entities, and holds voting rights and the right to dispose of shares.

    IPB started trading on the ASX yesterday, offering investors exposure to two highly prospective offshore Browse Basin oil and gas tenements.

    Notably, the first well on its Pryderi oil prospect in WA-424-P is fully funded by farm-in partner CalEnergy, a fully-owned subsidiary of Berkshire Hathaway's MidAmerican Energy Holdings Company.

    This targets mean recoverable prospective resource of 40 million barrels and has an overall 45% chance of success.

    IPB has $4.1 million in cash at hand.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.