Enterprise Energy will list with 64.34 million ordinary shares and 32,172,683 million options on issue, valuing the company at $12.87 million.

"Our first activity after listing will be participation in the Smegsy-1 exploration well in PEL-106 of the South Australian section of the Cooper Basin,” said Enterprise Energy's managing director, Warren Leslie.

“The Smegsy-1 well - with a planned spud date in the second half of July, subject to rig availability - is a gas target in an area where numerous gas discoveries have already been made.”

Leslie said Smegsy-1 was the first of a four well oil and gas wildcat drilling program in which Enterprise Energy would be involved over the next six months.

"The second well, in PL-18 in the Surat Basin, will be drilled on the Yellowbank Creek oilfield, possibly during August, again subject to rig availability,” he said.

"This field has produced in excess of 400,000 barrels of oil and it is estimated that at least 3.6 million barrels remain."

The third well, Nulla Nulla-1, is scheduled to be drilled in the Queensland portion of the Cooper Basin, in ATP-549P (West), later this year. This well will address approximately 27 million barrels of oil, predicted to be trapped in the structure.

The fourth and final well in the initial drilling plan will be Stokes Bay-1 in the onshore Canning Basin of Western Australia, where a gas discovery has already been made.

Ahead of its listing this week, the company had participated as a 20% partner in the drilling of Cooper Energy and Liberty Petroleum's Acacia Grove-1 in PEL-100 in the South Australian Cooper Basin. This well revealed minor hydrocarbon shows but was plugged and abandoned after being found to be sub-commercial.

Enterprise Energy’s two tiered capital raising included a fully underwritten Public Offer of 30 million shares at 20 cents per ordinary share, together with one free 20c option per every two shares, to raise $6 million.

Both the Rights Issue and the Public Offer were fully underwritten by PCP Securities Limited.

The company is earning interests of up to 50% in oil and gas prospects in onshore South Australia, Queensland, Western Australia and the Northern Territory - focused on the Cooper, Surat, Canning and Amadeus Basins.