The Rights Issue Offer was fully underwritten by Martin Place Securities. The shortfall of 24,194,290 shares will be acquired by the underwriter and sub-underwriters.
On completion of the underwriting and sub underwriting subscription, the Company will have issued a further 73,900,000 ordinary shares and raised $11 million before costs.
The Directors would like to thank shareholders for their continued support of the Company.
About Petsec Energy Ltd
Petsec Energy Ltd (ASX:PSA) (OTCMKTS:PSJEY) is an independent oil and gas exploration and production company listed on the Australian Stock Exchange. It has operations in the shallow waters of the Gulf of Mexico and state waters of the Louisiana Gulf Coast region of the USA, and exploration activities in the Gulf Coast onshore and bay areas of Texas and Louisiana, USA and Yemen.
Petsec Energy Ltd