Kimberley Oil has told the market its placement of 10 million shares at 7 cents, which raised $700,000, has closed fully subscribed.
The funds will be used for the company's proposed work program on the Blina Oilfield and for working capital. Following the work program, Kimberley intends to drill Blina-9.
In the same vein, Queensland Gas Company told the market its 1:3 renounceable rights issue was successfully completed last week.
The allotment of 32,325,730 new ordinary shares raised around $9.7 million, which will be used for its coalbed methane exploration program in Queensland Surat Basin.
New Zealand Oil & Gas is looking to raise up to $NZ1.75 million by issuing 87.7 million options at an issue price of 2 cents. The money will be used to supplement its working capital.
