Karoon Gas Australia Ltd
(ASX:KAR) has announced a $100 million share purchase plan to raise funds for exploration and appraisal programs in the Browse Basin, Brazil and Peru.
Last week the company raised $186.4 million through a placement to institutional investors.
Karoon is offering eligible shareholders the opportunity to purchase up to $15,000 of Karoon shares at a subscription price of $7 a share.
The closing date for applications is expected to be around the 20 October.
Karoon Gas Australia posted a loss of $14.89 million for the 2010 fiscal year.
