The Perth Basin junior has claimed an extra 1% of the Cliff head offshore development (it now has 6%), an extra 4.75% of the Jingemia oilfield (now with 11%), and 10% in two exploration permits.

It paid Mitsui $1.2 million for the Cliff Head stake and paid Arc Energy $3.23 million for its equity.

Voyager raised $2.6 million by placing 10.8 million shares at 24 cents, and plan to pull in another $11.2 million via a two-for-three renounceable rights issue to shareholders at 20c.

Voyager managing director John Begg said, “These transactions and the placement and underwritten rights issue represent a significant milestone in the growth of Voyager Energy.

“Our Perth Basin acreage covers a vast area with many identified, undrilled structures. With these dealings we are once again showing our ability to both compete for sought after assets and, where appropriate, work with larger companies to our mutual benefit.

“We have substantially improved the security of our future cash flows by increasing equity in the Cliff Head and Jingemia oil production projects and at the same time balanced our exploration risk.

“We are particularly pleased about the leverage our shareholders will now have to our 2004 drilling program in which we are budgeting for at least 4 wells. The program is scheduled to commence onshore with the Jingemia-4 well in April, with the next well expected to be a test of the large Fiddich structure offshore.”