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An announcement from Botala Energy Ltd. ( (AU:BTE) ) is now available.
Botala Energy Ltd has announced a successful capital raise of A$1.5 million through a placement of approximately 25.4 million new shares at A$0.059 each. The funds will be used to advance the Serowe CBM Project, including drilling and stimulating the Serowe-3.5B well, drilling the JSH-1 exploration well, and progressing the Bankable Feasibility Study. This move is expected to support the company’s goal of achieving first gas sales and reflects strong confidence from directors and cornerstone investors in the project’s potential to deliver long-term shareholder value.
More about Botala Energy Ltd.
Botala Energy Ltd is a company operating in the energy sector, focusing on coal bed methane (CBM) projects. The company is primarily engaged in the exploration and development of CBM resources, with a market focus on enhancing energy security in its region.
Average Trading Volume: 76,793
Technical Sentiment Signal: Hold
Current Market Cap: A$18.28M
For detailed information about BTE stock, go to TipRanks’ Stock Analysis page.