- Bounty Oil and Gas (BUY) enters the day in a trading halt as it plans an upcoming capital raise
- Currently it is unknown how much the company is aiming to raise but it did hint that it plans to buy an interest in a project
- Company shares will be paused until Thursday, October 14, or when more information is released to the market
- On the market, Bounty Oil and Gas last traded at 1.5 cents per share
Bounty Oil and Gas (BUY) has entered the day in a trading halt as it plans an upcoming capital raise.
So far there are no details on how much the company is aiming to raise but the company did hint that it was planning to buy interest in a project.
Under the halt, company shares will be paused until Thursday, October 14, or when more information about the raise is released to the market, which ever comes first.
Bounty Oil and Gas is an Australian based oil and gas explorer and producer company. It has core projects in the Carnarvon Basin, Cooper/Eromanga Basin and Southern Surat Basin.
At the end of the 2021 financial year, the company’s cash and current assets increased to $1.7 million with no debt.
Petroleum revenue down 49 per cent to $1.47 million as COVID- 19 restrictions heavily impacted international oil prices.
Bounty Oil and Gas last traded at 1.5 cents per share.