In an announcement to the Australian Securities Exchange, Strike said it would issue 117.6 million shares at A17 cents each to raise the money, lifting its total issued capital by 23.7% to 614.5 million shares.
Funds from the placement will allow for a follow-on evaluation and testing programme of the Marsen 1 well in PEL 95 and the Davenport 1 well in PEL 94, in which Strike holds a 35% stake.
