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Sun Resources To Raise Capital

Sun Resources (ASX:SUR) has recently been making some transformational land acquisitions in the U.S.

The company recently announced it had secured the rights to oil and gas leases covering approximately 1,980 gross mineral acres in the highly prospective Lower Woodbine area in Texas.

This complements Sun's existing portfolio of Woodbine and Eagle Ford project areas and increase Sun's total land holdings to a combined ~38,000 gross (~23,000 net1) mineral acres.

Sun is actively pursuing additional acreage acquisitions within the region subject to acceptable due diligence and securing the necessary capital.

The company has been granted a trading halt today pending capital raising details.

The halt will remain in place until the opening of trade on Wednesday 27th August 2014, or earlier if an announcement is made to the market.

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