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Australia: Norwest Energy announces capital raising for Perth Basin exploration 19 Jan 2021 Norwest Energy has completed a bookbuild to raise $2million (before costs) through a placement of shares to a range of sophisticated and institutional investors, including Norwest Energy’s major shareholders. The proceeds of the placement (together with the Company’s existing cash reserves) will be used to fund drilling costs associated with Norwest s 20% interest in the Lockyer Deep-1 exploration well, located in Perth Basin exploration permit EP 368, on trend with three very significant discoveries, and targeted for drilling in H1 2021. Funds will also be allocated towards planning and preparation for a 3D seismic survey across EP368 and EP426 (post drilling of Lockyer Deep-1), desktop studies on exploration permit TP/15, and general working capital.

High cliffUnited kingdomIain smithBeharra springsdeepStrike energy west erregullaMineral resources ltdSundowner internationalC groupNorwest energyEuroz hartleysPerth basinHartleys limitedLead managerManaging directorLockyer deepStrike energy