Wednesday, January 18, 2012 by John Phillips
Sunbird Energy (ASX: SNY) is gearing up to explore and develop CBM projects (which are a proven source of natural gas) in Southern Africa, and has now been admitted to the ASX after a successful IPO which offered 45 million shares at $0.20 to raise up to $9 million.
Sunbird will hit the ASX boards at 1:00pm EDST on Thursday 19 January, with around 50.2 million shares on issue.
The company is set to hit the ground running fast and has already entered into agreements to acquire a portfolio of CBM projects, which includes a 74% interest in four projects in South Africa and a 100% interest in one project in Botswana.
Importantly Sunbird has already developed a strategic alliance with the Black Economic Empowerment company Umbono, providing a joint venture partner with experience in the region.
Project review
Sunbird’s key projects are located in the prospective coal areas of Kasane in Botswana and Mopane, Springbok Flats, Ermelo and Somkhele in South Africa.
The Ermelo Project is traversed by the Mozambique to Secunda gas pipeline, adjacent to the major hub for the coal and gas to liquids industry and near to the major population and manufacturing centre of Johannesburg.
The Mopane Project in South Africa is located in the Limpopo Province and is characterised by the extensive coal deposits of the Soutpansberg Basin and is traversed by major electricity transmission lines that form part of the Southern African Power Pool.
The Kasane Project in Botswana is located in the north‐east corner of Botswana within the Kalahari Karoo Basin.
Sunbird will hit the ASX boards at 1:00pm EDST on Thursday 19 January, with around 50.2 million shares on issue.
The company is set to hit the ground running fast and has already entered into agreements to acquire a portfolio of CBM projects, which includes a 74% interest in four projects in South Africa and a 100% interest in one project in Botswana.
Importantly Sunbird has already developed a strategic alliance with the Black Economic Empowerment company Umbono, providing a joint venture partner with experience in the region.
Project review
Sunbird’s key projects are located in the prospective coal areas of Kasane in Botswana and Mopane, Springbok Flats, Ermelo and Somkhele in South Africa.
The Ermelo Project is traversed by the Mozambique to Secunda gas pipeline, adjacent to the major hub for the coal and gas to liquids industry and near to the major population and manufacturing centre of Johannesburg.
The Mopane Project in South Africa is located in the Limpopo Province and is characterised by the extensive coal deposits of the Soutpansberg Basin and is traversed by major electricity transmission lines that form part of the Southern African Power Pool.
The Kasane Project in Botswana is located in the north‐east corner of Botswana within the Kalahari Karoo Basin.
Courtesy of http://www.proactiveinvestors.com.au
No comments:
Post a Comment