EXPLORATION

Norwest raising exploration funds

NORWEST Energy is planning to raise $2 million for its exploration work and remains on target to drill the Redhill South well in the onshore Perth Basin.

The funds will be raised through an issue of about 104.5 million options under a non-renounceable entitlement offer to raise $784,404 and the placement of 28.4 million shares at 4.4c each to raise $1.25...

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