- Shares in Australian oil and gas explorer Elixir Energy (EXR) have been placed in a trading halt ahead of an upcoming fundraising
- The trading halt is expected to be lifted on or before Wednesday, April 21, when further details regarding the raise are made to market
- At this stage, information regarding planned fundraising activities has been light-on in details
- In terms of current projects, Elixir is undergoing efforts to create Mongolia’s first gas-fired project power generation using coal bed methane, with the first well of the drilling programme completed last week
- Prior to the trading halt, Elixir Energy shares last changed hands at 45 cents
Shares in Australian oil and gas explorer Elixir Energy (EXR) have been placed in a trading halt ahead of an upcoming fundraising.
Elixir shares are set to remain in a trading halt until the release of a formal announcement regarding the raise is made to market or the commencement of trading on Wednesday, April 21.
The company has not disclosed any finer details regarding the raise at this stage such as how much it might look to secure or what it has planned for the funds.
Elixir is currently undertaking efforts to create Mongolia’s first gas-fired project power generation project using coal bed methane.
A field program at the Nomgon project commenced in early March, with the company recently disclosing the first well in the 2021 drilling program, Yangir-2, had been completed as of last week.
The project includes a Nomgon IX CBM production sharing contract.
Prior to the trading halt, Elixir Energy shares last changed hands at 45 cents.