All tagged Nido Petroleum ASX:NDO

Nido Petroleum - Launches A$31.9m Pro‐Rata Renounceable Entitlement Offer

Nido Petroleum announced it will raise up to A$31.9m through an 11.2 for 1 pro‐rata renounceable Entitlement Offer at A$0.065 per new share. Proceeds from the raising will be used to fund the drilling of Nido’s participating interest of drilling of the Galoc‐7 appraisal well and, if required, an associated side‐track scheduled to occur in Q1 2017. Galoc‐7/7ST will appraise the currently untested Galoc Mid Area in Nido’s core asset, Block C1 of Service Contract 14 (Galoc Field).