Daytona's Timor Sea permits granted six-month extension
Daytona Energy Corp DYT
Shares issued 26,460,973 Aug 16 close $0.19
Fri 17 Aug 2001 News Release
Mr. Bob Berven reports
The joint government authorities have granted a six-month permit year
extension to Timor Sea permits AC/P25 and P27 until Feb. 25, 2002. This
year three extension will allow Anadarko Petroleum Corporation, which has
farmed into the permits, to drill the Sebring No. 1 and Sleeper No. 1 wells
between now and the end of February, 2002. The two farmout agreements
announced previously provide for Daytona to be free carried for 25-per-cent
interest in the Sebring No. 1 well, and for 12.5-per-cent interest in the
Sleeper No. 1 well. The exact timing will depend on permitting procedures,
rig availability and weather conditions.
Replacement prospectus
Daytona Energy advises that on Aug. 9, 2001, it lodged a replacement
prospectus with ASIC in association with its application for listing on the
Australian Stock Exchange. The prospectus replaces the prospectus lodged on
June 11, 2001, and is available for downloading from the company's Web site
www.dyt.com.au and from the ASX Web site www.asx.com.au. A hard copy of the
prospectus is available from Terrain Capital Limited, Level 25, 500 Collins
St., Melbourne, Victoria 3000, Australia, phone: 61-3-9620-7555, fax:
61-3-9620-7566, or from the company's registered office in Perth, Western
Australia, phone: 61-8-9485-0360 or fax: 61-8-9322-7727.
The Australian offer is 30 million shares at 20 Australian cents per share
which also includes one free option for every two shares subscribed to
raise up to $6-million (Australian). The options are exercisable at 20
Australian cents per share within 12 months of Daytona being admitted to
the official list of the Australian Stock Exchange (ASX).
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch |
