Norwest Energy NL (ASX: NWE), a Perth-based oil and gas explorer, receives the commitments to raise $3.25 million via a placement of securities.
- The company also intends to undertake a Share Purchase Plan, to further raise a $500,000, which aims to provide eligible shareholders with an opportunity to participate in the capital raising on the same terms as the Placement.
- The raised funds would be utilised to fund the drilling cost of Norwest’s 20% interest in EP 368 in the Perth Basin.
- NWE would further use the funds for the planning and preparation of the operations within the EP 368 and EP 426.
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