Karoon Gas Australia negotiates private placement of ordinary stock

By Devika Patel

Knoxville, Tenn., June 9 - Karoon Gas Australia Ltd. said it plans a private placement of ordinary shares.

Merrill Lynch is the lead manager for the placement; BBY Ltd., Bell Potter, Credit Suisse First Boston, EL&C Baillieu and Southern Cross Equities are participating brokers.

Proceeds will be used to bolster the company's cash position for its continued exploration and appraisal program in the Browse Basin, along with the upcoming exploration programs in Peru and Brazil and general working capital.

Karoon is an energy exploration company based in Mount Martha, Australia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.