Real Energy Corporation Releases June 2020 Quarterly Report

  • Jul 31, 2020 AEST
  • Team Kalkine

Gas development company focused on the East Coast of Australia, Real Energy Corporation Limited (ASX: RLE) has released its quarterly update for the period ended 30 June 2020. The report incorporates key details of activities undertaken by the Company during the quarter, which include:

  • Establishment of a wholly owned subsidiary Pure Hydrogen Corporation Pty Limited.
  • Exploration initiatives centred on the newly secured Project Venus opportunity in the Surat Basin.
  • Activities also progressed at the Windorah Gas Project in the Cooper Basin

Subsequent to end-June, the Company entered a binding Scheme Implementation Agreement with Strata-X Energy Limited (ASX: SXA) to pursue a nil premium merger, creating Pure Energy Corporation Limited. The goal of the merger is to create the next ASX energy growth stock.

At the end of June, the Company had $1.6 million in cash with a tight focus on cost control.

 


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