Gunsynd PLC Investment in Omega Oil & Gas Limited (0563E)
October 25 2022 - 6:16AM
UK Regulatory
TIDMGUN
RNS Number : 0563E
Gunsynd PLC
25 October 2022
25 October 2022
Gunsynd plc
("Gunsynd" or the "Company")
Investment in Omega Oil & Gas Limited
Gunsynd Plc (AIM: GUN, AQSE: GUN) announces that it has invested
AUD$90,000 (approximately GBP50,000) into Omega Oil & Gas
Limited ("Omega") (ASX: OMA), an ASX listed Australian energy and
resources company focused on natural gas exploration and oil
production.
Omega commenced trading on the ASX at 12:00PM AEDT on Tuesday,
25 October 2022. Omega raised $15,070,000, through the issue of
75,350,000 shares at an issue price of $0.20 per share (the
"Fundraise").
Gunsynd subscribed for 450,000 shares at AUD 20 cents for a
total consideration of AUD$90,000 (the "Investment") as part of the
Fundraise, from the Company's existing cash resources.
Omega holds two explorations permits ("Authority to Prospect" or
"ATP") (ATP 2037 and ATP 2038) and a petroleum licence ("PL"), PL
17, in the Surat-Bowen Basin in South-East Queensland, Australia.
Omega was incorporated in September 2020 to acquire Cypress
Petroleum Pty Ltd from Tag Oil, a TSX listed oil and gas company.
Through its acquisition of Cypress Petroleum, Omega holds 100% of
ATP 2037, ATP 2038 and PL 17, which together represent a
diversified portfolio of exploration and production assets.
Omega intends to execute a two well drilling campaign across
both ATP 2037 and ATP 2038, focusing on the Kianga Formation in the
Permian. This drilling campaign has two goals; to validate basin
centred play, specifically the feasibility of commingled
multi-facies production in the Taroom Trough, and to prove
commercial prospectivity of the Permian Deep Gas by the application
of a fit-for-purpose low cost well design. If successful, these
activities will ultimately prove the viability of future gas and
liquids development. This drilling campaign, if successful, will
materially de-risk the Taroom Trough as a future gas producer in
the years to come.
Gunsynd holds 450,000 ordinary shares in Omega representing
approximately 0.4% of Omega's issued share capital.
For the year ended 30 June 2022, Omega had turnover of
AUD$27,706 and made a loss of AUD$2,005,513.
The Directors of Gunsynd accept responsibility for this
announcement.
For further information please contact:
Gunsynd plc
Hamish Harris/ Peter Ruse +44 (0) 78 7958 4153
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the Company's ability to execute
and implement future plans, and the occurrence of unexpected
events. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
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END
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