Big Sky Closes Private Placement
The note is automatically convertible into common shares of the company at a conversion price of US$1.22 (subject to certain adjustments) and subject to certain terms and conditions. Interest on the note is payable in cash on a semi-annual basis.
Westwind Partners (UK) Limited acted as sole agent to Big Sky in connection with the private placement of the convertible notes. Big Sky will use the net proceeds from this financing to drill additional wells in its Morskoe Block (principally the Ogai Field) and the Dauletaly Block, as well as for working capital.
"This financing will enable the company to accelerate the drilling of some prospective wells which we believe will be very significant in continuing the growth of this company," said Al Sehsuvaroglu, Big Sky’s president and CEO.
Big Sky Energy Corp. is a U.S. junior oil and gas company looking to develop assets in the world's most prolific basins in order to become a leading low-cost finder of hydrocarbons. The company is currently operating in Kazakhstan's renowned pre-Caspian Basin.
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally