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  • Pura Vida Energy Completes $8M Capital Raising 0 comments
    Jun 21, 2013 3:05 AM

    Pura Vida Energy (ASX: PVD) has issued the second tranche of 4.2 million shares priced at $0.39 each, completing the $8 million capital raising it announced in May.

    Proceeds from the placement will be used primarily to accelerate activities on the newly acquired Nkembe block offshore Gabon and repay its short-term funding facility.

    Nkembe has net Prospective Resources of 815 million barrels of oil equivalent in the first four prospects that the company has reviewed so far.

    This initial review confirmed the block contains a range of different play types with four main prospects being as well as the existence of large pre-salt structures in the Nkembe Block.

    The Farm-out process will commence shortly with EZDataRoom, the group that successfully assisted Pura Vida in farming out the Mazagan permit in Morocco.

    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.

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