-- Omega Oil & Gas (ASX:OMA) received firm commitments to raise AU$60 million through the placement of 71.4 million new shares at AU$0.84 apiece, according to a Thursday filing with the Australian bourse.
In tranche one, about 38.6 new shares will be issued to raise AU$32.4 million, and in tranche two, 32.9 million new shares will be issued to raise AU$27.6 million, subject to shareholder approval, the filing said.
Proceeds will be used for upcoming work program expected to start in June in the Taroom Trough in Queensland, per the filing.
Shares rose 12% in afternoon trade Thursday and earlier reached an all-time high.