Asian Equities News 2015-07-22: Cooper Basin Holds Another 13.7 Trillion Cubic Feet of Gas

Mozambi Resources Ltd (ASX:MOZ) announced that exploration has now started on the Nachingwea Project in Tanzania, with the first trenches commencing just days after the first two tenement grants being received. Currently the trenching is progressing through the saprolite zone before the fresh mineralisation is exposed, however graphite is visible across all of the length exposed to date.

Cooper Basin focused oil & gas exploration company Real Energy Corporation Ltd (ASX:RLE) has provided details of its independent estimates of contingent gas resources and an upgrade of unconventional prospective gas estimates at its Cooper Basin Permit. The resource upgrade follows the successful drilling and testing program undertaken by the company during the 2015 financial year, with the prospective resources effectively increasing by more than 141% to 13.761 Trillion Cubic Feet (TCF) from pre-drilled estimates of 5.7 TCF.

88 Energy Ltd (ASX:88E) (LON:88E) is pleased to advise that it has successfully completed the bookbuild for a placement to domestic and international institutional and sophisticated investors to raise up to $12 million through the issue of up to 1.2 billion shares at 1 cent per ordinary share, the Placement was strongly oversubscribed. 88 Energy recently acquired an initial 87.5% working interest and operatorship of the prolific North Slope of Alaska ("Project Icewine"). The North Slope is the host for the 15 billion barrel Prudhoe Bay oilfield complex, the largest in North America.


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