3D Energi Bolsters Balance Sheet With Successful Capital Raise
Source: Kapitales Research
Highlights:
3D Energi secured firm commitments to raise fourteen point five million dollars through a strongly supported equity placement.
Funds will be directed toward Essington-One well testing, drilling at Charlemont-One in the Otway Basin, and general working capital.
The placement was completed at a discount to recent trading levels and includes free attaching options, subject to shareholder approval.
Strong Institutional Backing Supports Placement
3D Energi has completed a highly successful capital raising, securing firm commitments to raise fourteen point five million dollars before costs through a placement priced at fourteen cents per share. The transaction attracted strong demand from a mix of domestic and offshore institutional investors, including both new and existing shareholders, underscoring continued market support for the company’s exploration strategy.
The placement will result in the issue of around one hundred and three million new shares, with subscribers also entitled to one free attaching option for every share acquired, subject to shareholder approval. The options are proposed to carry an exercise price of twenty one cents and will expire two years from the date of issue, with the company intending to seek quotation on the Australian Securities Exchange, subject to meeting listing requirements.
Funding Key Otway Basin Activities
Proceeds from the placement will be applied toward testing at the Essington-One well and drilling operations at the Charlemont-One gas exploration well within permit VIC slash P seventy nine. Charlemont-One is the second well in the twenty twenty five Otway Exploration Drilling Program and represents a key milestone following more than a decade of technical evaluation and prospect maturation.
Drilling at Charlemont-One commenced on December eleven, twenty twenty five, and is expected to take approximately thirty two point nine days to reach a planned total depth of two thousand eight hundred and thirty metres true vertical depth subsea, subject to operational conditions and wireline logging activities. Part of the proceeds will also be used to fund general working capital needs, including expenses associated with the placement.
Pricing and Timetable
The placement price reflects a discount of approximately seventeen point six per cent to the company’s last traded share price prior to the announcement, as well as an eighteen point five per cent discount to the fifteen-day volume weighted average price. Settlement of the placement is expected on December twenty three, twenty twenty five, with new shares to be allotted shortly thereafter. The free attaching options are expected to be issued after shareholder approval is obtained at a general meeting scheduled for late January twenty twenty six.
Outlook
Management indicated the capital raise strengthens the company’s financial position as it advances a critical phase of its Otway Basin drilling campaign alongside joint venture partners ConocoPhillips and Korea National Oil Corporation. As drilling progresses, market attention is likely to focus on exploration outcomes and their potential to support future gas supply into Australia’s east coast market.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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3D Energi Bolsters Balance Sheet With Successful Capital Raise
Highlights:
Strong Institutional Backing Supports Placement
3D Energi has completed a highly successful capital raising, securing firm commitments to raise fourteen point five million dollars before costs through a placement priced at fourteen cents per share. The transaction attracted strong demand from a mix of domestic and offshore institutional investors, including both new and existing shareholders, underscoring continued market support for the company’s exploration strategy.
The placement will result in the issue of around one hundred and three million new shares, with subscribers also entitled to one free attaching option for every share acquired, subject to shareholder approval. The options are proposed to carry an exercise price of twenty one cents and will expire two years from the date of issue, with the company intending to seek quotation on the Australian Securities Exchange, subject to meeting listing requirements.
Funding Key Otway Basin Activities
Proceeds from the placement will be applied toward testing at the Essington-One well and drilling operations at the Charlemont-One gas exploration well within permit VIC slash P seventy nine. Charlemont-One is the second well in the twenty twenty five Otway Exploration Drilling Program and represents a key milestone following more than a decade of technical evaluation and prospect maturation.
Drilling at Charlemont-One commenced on December eleven, twenty twenty five, and is expected to take approximately thirty two point nine days to reach a planned total depth of two thousand eight hundred and thirty metres true vertical depth subsea, subject to operational conditions and wireline logging activities. Part of the proceeds will also be used to fund general working capital needs, including expenses associated with the placement.
Pricing and Timetable
The placement price reflects a discount of approximately seventeen point six per cent to the company’s last traded share price prior to the announcement, as well as an eighteen point five per cent discount to the fifteen-day volume weighted average price. Settlement of the placement is expected on December twenty three, twenty twenty five, with new shares to be allotted shortly thereafter. The free attaching options are expected to be issued after shareholder approval is obtained at a general meeting scheduled for late January twenty twenty six.
Outlook
Management indicated the capital raise strengthens the company’s financial position as it advances a critical phase of its Otway Basin drilling campaign alongside joint venture partners ConocoPhillips and Korea National Oil Corporation. As drilling progresses, market attention is likely to focus on exploration outcomes and their potential to support future gas supply into Australia’s east coast market.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au