Rights Issue Closes Oversubscribed
Notice under Appendix 7A of the Listing Rules
Burleson Energy Limited (ASX: BUR) is pleased to announce that the Rights Issue announced on 3 March 2011 closed on 5 April 2011 oversubscribed. All shares offered under the rights issue were taken up by existing shareholders, with a significant number of shareholders applying for additional shares. The issue raised approximately $5.7 million before costs.
Existing shareholders will received their full entitlements of approximately 105,222,283 new Shares and 35,074,094 new Options pursuant to the rights issue, being 100% of all shares and options on offer. The Lead Manager to the Issue was Patersons Securities Limited.
Together with the placement completed 10 March 2011, the issue has raised the balance of the funding required to enable Burleson to embark on an aggressive campaign involving both a faster appraisal/development campaign for the Heintschel field and the drilling of additional exploration wells on very high quality prospects.
The Board wishes to thank shareholders for their continued support of the Company.
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