ProActive Investors AUSTRALIA
PURA VIDA ENERGY
Pura Vida Energy (ASX: PVD) has a 75 per cent interest in the Mazagan Offshore Area. Mazagan is located off the coast of Morocco in the Atlantic. We have modern, high quality 3D seismic data over the block with independently certified prospective resources of more than three billion barrels of oil.
The Toubkal prospect alone has a potential resource range of 180 million to 1.670 billion barrels of oil, with a mean estimate of 790 million barrels of oil. Toubkal is an analogue of the billion barrel Jubilee field in Ghana – the largest oil discovery made in West Africa in the past decade.
Pura Vida Energy (ASX:PVD) said it has completed its share placing, which raised in the region of A$6.03mln.
The Australian firm, which has been a star performer on the Australian stock exchange, soaring from A$0.25 in July to A$0.80 in early December, placed the shares to institutions and sophisticated investors at 70 cents a pop.
In addition to placing 8.6mln shares, the Morocco-focused company granted options over 1.5mln shares to CPS Securities for services rendered in relation to the company’s flotation in February of this year and general corporate advice.
The options carry an exercise price of A$0.25 and are exercisable on or before 3 December 2014.
Dilution to existing Pura Via shareholders as a result of the share issue is 15%.
