Jupiter Energy Plans $4M Capital Raising for Oil Expansion

Jupiter Energy Limited (AU:JPR) has released an update.

Jupiter Energy Limited has announced a proposed capital raising, aiming to secure up to $A4 million through a placement prospectus with the assistance of Vested Equities Pty Ltd. The funds will be directed towards drilling a new well in the Akkar East oilfield, potentially boosting oil production from 640 barrels per day to 1000 barrels per day. Existing Australian shareholders will have a priority offer to participate in the capital raising.

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