ENTITLEMENT ISSUE.
The Board of Pancontinental Oil & Gas NL wishes to announce a one for three entitlement issue to holders of ordinary fully paid shares at an issue price of 4 cents each.
The issue is to raise approximately $1,046,514 to provide funds for further exploration of the company’s oil and gas properties and to provide working capital for the day to day operations of the company.
The issue is not underwritten and any shortfall may be placed at the discretion of the Directors within the terms of the Prospectus. Special preference will be given to acceptors who wish to apply for additional shares to round up their holding.
Appendix 3B detailing the issue is attached.
Yours faithfully,
for PANCONTINENTAL OIL & GAS NL
L A Colless
Secretary
