Sundance Energy raises A$80m for US exploration
JOHANNESBURG (miningweekly.com) – Energy explorer Sundance Energy has successfully completed an A$80-million share placement to accelerate the development of its Eagle Ford and Mississippian/Woodford acreage, in the US.
The funds raised would also be used for lease purchases and exploration.
Sundance said on Wednesday that the placement was priced at A$0.95 a share, representing a 5.9% discount to the closing price on February 20, and an 8.7% discount to the volume-weighted average for the five trading days up to and including February 20.
The company said that the placement, which was heavily oversubscribed as a result of strong investor demand, was undertaken after Sundance chose not to proceed with its US initial public offering, as it did not meet the goals and objectives of the proposed issue.
The placement shares would be issued in two tranches to professional and sophisticated investors in Australia.
During the first tranche 63.7-million shares would be issued under the company’s 15% placement capacity, with tranche 2 consisting of 20.5-million shares subject to shareholder approval at an extraordinary general meeting expected to be held in early April.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















