NewsMV
Bounty Oil and Gas NL has secured a foothold in deepwater Liberia by agreeing to acquire 100% of PetroQuest Liberia Deep Water for A$1.5 million.
The move is funded by firm commitments to raise A$3.5 million through a share placement. The next confirmable milestone is the completion of the placement and the formal transfer of the asset.
The acquisition price is A$1.5 million. This figure is fixed in the agreement. The company has not disclosed any additional contingent payments or earn-out structures in the provided details.
The funding mechanism is a share placement. The amount to be raised is A$3.5 million. The source describes these commitments as firm. This means the capital structure is pre-arranged before the deal closes.
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