MD John Begg said they planned to raise around A$3.5 million which would be earmarked for exploration activities and in the very near future, drilling prospects such as next month's Jingemia well. The end of the year was looking to be expensive also, although exciting, with up to five wells planned to test the Cliff Head discovery in the offshore Perth Basin and prospects which were subsequently identified.
"We will formalise the precise details over the next month - what share price we will be looking to make the placement at, how much stock etc - but I hope that in the meantime the Voyager price will strengthen on the back of what we've got going on," said Begg.
Voyager have mapped what they believe to be the extension of the Perth Basin oil fairway which extends in a north-westerly direction from Hovea in the south to the proposed Morangie well in WA-226P in the north.
One of the activities currently on the go for Voyager is the drilling of the Dartmoor CBM well. While the name of the CBM game is 'slowly, slowly catch ye monkey' elevated gas readings from the well have encouraged the company as it approaches the Epsilon coal seam.
Background gas readings increased from 25 units to 870 units, requiring the drillers to increase the weight of drilling mud to restore control in the well bore. Voyager said the operator Santos planned to core the 34 metre seam before running logs and production casing. This would take an estimated 6 days.
