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Global Oil and Gas Limited (ASX:GLV)

ALERT: Price-sensitive ASX Announcement for GLV
Current share price for GLV : $0.045 0.029 (181.25%)+
Announcement
Release
28 Feb 2024 10:00AM
Price at Release
$0.016
Full Release
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Summary
Global Oil and Gas Limited (GLV) announced a successful capital raising of $1.365 million to accelerate the workplan for the Company's offshore Peru project, specifically the Illescas Block. The funds will be used to finalize the acquisition of 3D seismic data, facilitate environmental permitting, and commence early exploration activities. The company notes that this raise supports the pursuit of their near-term objectives in Peru and enhances their overall operational flexibility. GLV is positioning itself for growth through this investment, aiming to deliver on key project milestones in the coming months.
Key Points
  • GLV raised $1.365 million through a capital raise.
  • Funds will fast-track the offshore Peru workplan, especially for the Illescas Block.
  • Priority uses include acquiring 3D seismic data, permitting, and early exploration activities.
  • The raise boosts GLV's ability to meet near-term project milestones in Peru.
  • GLV is focused on developing its South American oil and gas portfolio.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.