- Energy company Bass Oil (BAS) enters a trading halt as it finalises details on its upcoming capital raise
- Currently there are not many details on the raise or where the funds will be spent
- Company shares will be paused until Thursday, August 26, or when more information is released to the market
- On the market, Bass last traded at 0.2 cents per share
Bass Oil (BAS) has entered a trading halt as it plans for an upcoming capital raise.
So far, there are no details on how much the company is planning to raise or where the funds will be spent.
Under the halt, company shares will be paused until Thursday, August 26, or when more details about the raise is released to the market.
Bass Oil is a petroleum producer focused on South East Asia.
Last month, the company entered into a sale and purchase agreement (SPA) with Cooper Energy to purchase its South Australian assets.
Under the SPA, Bass will acquire three non-operated Cooper Basin assets and a 30 per cent interest in the Worrior oil field for $650,000.
Following completion of the purchase, Bass will be in a joint venture with a subsidiary of Beach Energy which will operate the assets.
On the market, Bass last traded at 0.2 cents per share.