FinTechFunding

Carnarvon Energy: Raises $70m for Dorado field development

Carnarvon Energy Raises $70m for Dorado field development

  • Oil and gas explorer Carnarvon Energy (CVN) successful raises $70 million through its fully underwritten institutional share placement, announced yesterday
  • The company will issue around 234.8 million new shares to institutional investors at 30 cents each, with new shares expected to settle on April 4
  • Carnarvon says the raised funds will go towards development work at its Dorado field in the offshore Bedout Sub-basin in WA and other growth opportunities
  • Carnarvon shares broke out of a trading halt to resume trading on the ASX today
  • CVN shares are down 3.03 per cent and trading at 32 cents at 1:31 pm AEDT
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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