Cott Oil & Gas is offering up to 40 million shares at an issue price of A$0.20 per share with plans to use the proceeds to fund a two-year exploration programme across its Westralian superbasin assets, which stretch from the Greater Palta prospect in the Carnarvon basin to Papua New Guinea.
Anglo-Dutch supermajor Shell is currently drilling in permit WA-384-P on the offshore Palta prospect, which has been estimated to hold 13.5
