Australia's Global Oil & Gas climbs on sale of finance facility shares

Condor Energy

01/04/2022 05:01

** Shares of Global Oil & Gas Ltd  GLV.AX  rise as much as
9.6% to A$0.029, their highest since Feb. 8 
    ** The oil and gas explorer says the 187.5 mln shares held
by Barclays Wells under the finance facility have been sold in
market  urn:newsml:reuters.com:*:nASX4CBj3v
    ** Says proceeds of roughly A$4.5 mln ($3.37 mln) from the
said sale will be used to fund the budget for co's 25% interest
in the multi TCF Sasanof-1 Prospect in Western Australia 
    ** About 15 mln shares change hands compared with a 30-day
average of 8.4 mln shares 
    ** Stock up 13% this year, as of last close
    
($1 = 1.3362 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))