Dart Energy Limited (ASX:DTE) today announced an initial independent reserve certification for PEDL 133 in Scotland. The reserve certification, undertaken by Netherland Sewell & Associates, Inc (NSAI) estimated 2P reserves of 43 BCF and 3P reserves of 81 BCF (net to Dart). Dart understands that this to be among the first, and most sizable, CBM reserves certifications in Europe to date.
Dart Energy Limited (ASX:DTE) today completed the issue of new shares pursuant to the recent entitlement offer, the retail component of which was settled on Friday, 20 May 2011. New shares issued will begin trading on the ASX on Tuesday, 24 May 2011. Dart expects to complete between 50 - 60 wells across the portfolio during 2011, or approximately half of the aggregate 109 well program identified for the next 12 - 18 months during the recent capital raising.
On 18 April 2011, Dart Energy Limited (ASX:DTE) announced a fully underwritten accelerated non-renounceable entitlement offer (Entitlement Offer) to raise approximately A$100 million, comprising an Institutional Entitlement Offer and a Retail Entitlement Offer. The Institutional Entitlement Offer was successfully completed on 20 April 2011, raising approximately A$54 million.
Asian Activities Report for May 4, 2011 includes: Liquefied Natural Gas Limited (ASX:LNG) has executed a Share Placement Agreement with a wholly owned subsidiary of China National Petroleum Corporation; Tap Oil Limited (ASX:TAP) has agreed to sell a 25% interest in the WA-351-P exploration permit in Western Australia to Japan Australia LNG Pty Ltd; Orocobre Limited (ASX:ORE) (TSE:ORL) announced the results of its definitive Feasibility Study of the Salar de Olaroz lithium-potash brine project in Argentina; AusQuest Limited (ASX:AQD) is undertaking major drilling programs to test priority gold prospects at Comoe Project in Burkina Faso.
Dart Energy Limited (ASX:DTE) has entered into a coal bed methane (CBM) joint venture with NV Mijnen in Belgium.
Dart Energy Limited (ASX:DTE) has successfully completed the institutional component of its underwritten 5 for 22 accelerated non-renounceable pro-rata entitlement offer.
Dart Energy Limited (ASX:DTE) today announced the launch of an equity raising of approximately A$100 million.
