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HYDROCARBON DYNAMICS LIMITED — Capital/Financing Update 2009
Sep 28, 2009
65041_rns_2009-09-28_ee562f42-bf92-4c14-826b-73dc92b4177f.pdf
Capital/Financing Update
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Company Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000
29 September 2009
Dear Sirs
Update on Non-Renounceable Rights Issue
Pryme Oil & Gas Limited (Pryme) refers to the non-renounceable rights issue announced on 26 August 2009 and offered to eligible shareholders on 10 September 2009 (Rights Issue).
Pryme advises that the Rights Issue closed on 24 September 2009 and applications for 21,762,221 ordinary shares (New Shares) were received, raising a total of $2,176,222.10.
The Rights Issue was undersubscribed to the amount of 29,323,875 ordinary shares (Shortfall Shares) .
The Directors intend to place the Shortfall Shares in accordance with the terms of the Rights Issue Offer Document and the ASX Listing Rules. Further details of the placement of the Shortfall Shares will be announced in accordance with the ASX Listing Rules.
The New Shares will be allotted on 2 October 2009. The Directors wish to thank the shareholders for their continued support and participation in the Rights Issue.
Yours sincerely
Justin Pettett Managing Director
For further information please contact:
Justin Pettett Ryan Messer Managing Director Chief Operating Officer Pryme Oil and Gas Limited Pryme Oil and Gas Limited Telephone: +61 7 3371 1103 Telephone: +1 713 401 9806 Email: [email protected] Email: [email protected]
Pryme Oil and Gas Limited is an Australian oil and natural gas producer and explorer with interests in the U.S., the world’s biggest oil market. The company has an exceptional suite of exploration projects focused on Louisiana, the fifth-largest oil-producing state in the U.S. These projects are funded in part by existing cash flow. Pryme’s management team has over 75 years of energy industry experience and has uniquely focused local knowledge, underscored by the proven track records of its managers and directors. Directors of the company are George Lloyd (Non Executive Chairman), Justin Pettett (Managing Director), Ryan Messer (Executive Director) and Ananda Kathiravelu (Non Executive Director).
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