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Oil Basins to lift cash for strategic asset in the Gippsland Basin

Proactive Investors Thursday, 21 September 2017
Oil Basins Ltd (ASX:OBL) is looking to tap into the electricity shortfall occurring on East Coast of Australia, with the company holding a strategic asset in the Gippsland Basin, which is adjacent to the BHP/ExxonMobil Kipper field. The basin is Australia’s premier hydrocarbon province, and is located 200 kilometres east of Melbourne. Oil Basins has this morning been granted a trading halt by the ASX, pending details of a capital raising. The halt will remain in place until the opening of trade on Monday 25th September 2017, or earlier if an announcement is made to the market.
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Source: Bloomberg Global Business - < > Embed

News video: Oil Market Wants U.S., OPEC Discipline, Says Pickering

Oil Market Wants U.S., OPEC Discipline, Says Pickering 02:08

Sep.22 -- Dan Pickering, chief investment officer at TPH Asset Management, talks about oil market concerns about U.S. and OPEC supplies. He speaks with Bloomberg's Alix Steel on "Bloomberg Daybreak: Americas."

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