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
