|Bid||0.0620 x 0|
|Ask||0.0650 x 0|
|Day's range||0.0700 - 0.0700|
|52-week range||0.0360 - 0.0760|
|Beta (5Y monthly)||0.65|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (TSX-V:SXE) (ASX:SXA) are pleased to announce that the Company is undertaking a non-brokered private placement to sophisticated and institutional investors in Australia of up to 18,000,000 Units (“Units”) in the Company at a price of A$0.05 per Unit for gross proceeds of up to A$900,000 (“Placement”). Each Unit consists of one Chess Depository Unit (“CDI”) and one half of one option. The funds raised from the Placement will primarily be used to progress the Company’s recently announced CSG project in the Surat Basin (Queensland, Australia), ongoing environmental and development studies on the Company’s 100% owned Serowe CSG Project in Botswana, repayment of a director loan (matched by a Placement subscription by the director), lease maintenance, costs of the Placement and general working capital.
Strata X Energy Ltd and Real Energy Ltd are the Preferred 50:50 Bidders for a highly prospective Surat Basin (Australia) Coal Seam Gas (CSG) tenement targeting Walloon coals. The tenement is surrounded by major CSG producing tenements and covers 153 km2 approximately 9 km west of Miles, Queensland. The tenement is located within 6 km of a gas pipeline connected to east coast gas markets offering the potential for early cash flows once the significant gas resources are progressively converted to reserves.
NDA signed with Botswana Development Corporation (BDC) to allow due diligence required for a multi-staged US$10 million finance package targeting the appraisal and development of Strata-X’s 100% owned Serowe CBM Project. BDC is the largest investment holding company in Botswana. Serowe CBM Project has been estimated to contain up to 6 TCF of Prospective Resource.
Highlights Approval of the Scoping Form in advancement of the Environmental Impact Assessment (“EIA”).Full EIA report will be submitted in September with final approval.