Brief: Hartshead Resources Announces Farm-Out Agreement With RockRose Energy

Hartshead Resources NL

05/04/2023 04:37

April 5 (Reuters) - Hartshead Resources NL  HHR.AX :
    * HARTSHEAD AND ROCKROSE HAVE TOGETHER EXECUTED A BINDING
AGREEMENT
    * BINDING AGREEMENT FOR HARTSHEAD TO FARM-OUT 60% OF ITS UK
SOUTHERN GAS BASIN ASSETS TO ROCKROSE
    * TOTAL GROSS CONSIDERATION UNDER FOA A$196.3M
    * RECEIVED FIRM COMMITMENTS FOR A PLACEMENT TO RAISE A$20
MILLION
    * PLACEMENT VIA ISSUE OF 501 MILLION SHARES AT A PRICE OF
A$0.04/SHARE
    * A$536M OF GROSS PROJECT EXPENDITURE SATISFIED BY BINDING
FARM-OUT AGREEMENT TRANSACTION

Source text for Eikon:  ID:nASX3nz4Ds 
Further company coverage:  HHR.AX 

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