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The initial Merlin float was an ambitious dual $15 million ASX and AIM (London) listing which fell over some months ago when unable to meet drilling commitments.
Central Australian Petroleum is now aiming to raise $7 million early next year though underwriter and sponsoring broker Martin Place Securities.
The CAP board remains as per the previous Merlin structure with John Heugh as managing director, Jock McGregor as non-exec chairman with Brad Lingo, Denzil Griffiths, Emma Stein and Richard Faull rounding out the board.
Heugh told EnergyReview.Net this morning EP-93 in the Pedirka Basin had been granted early this month and the company was also looking at acquiring a production asset.
