WELLINGTON, New Zealand, June 25 /CNW/ -- Austral Pacific Energy Ltd.
(TSX-V: APX; NZSX: APX; AMEX: AEN)
Further to Austral Pacific Energy Ltd.'s news release of June 20, 2008,
the Company now confirms that it has completed the placement of 11,222,360
common (ordinary) shares with attached half-warrants, sold as units at $0.50
per unit, for total proceeds of $5,611,180. Two half-warrants are exercisable
for one common share of the Company's capital for 15 months after closing at
an exercise price of $1.00.
The funds will be used to fund the Company's current and future drilling
programs and other working capital. Results from the Cheal A6 well are
expected within the next week.
The shares and any shares issuable on exercise of the warrants will be
subject to a four month resale restricted period in Canada. These securities
are not being offered or sold in the United States and will not be registered
under the US Securities Act of 1933. They will not be eligible for resale
within the United States except in accordance with available exemptions from
registration under that Act.
Web site: http://www.austral-pacific.com
Phone: Thom Jewell, CEO +64 (4) 495 0880 or Brad Holmes: +1 (713) 304
None of the Exchanges upon which Austral Pacific's securities trade have
approved or disapproved the contents hereof. This release includes certain
statements that may be deemed to be "forward-looking statements" within the
meaning of applicable legislation. Other than statements of historical fact,
all statements in this release addressing future production, reserve
potential, exploration and development activities and other contingencies are
forward-looking statements. Although management believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance, and
actual results or developments may differ materially from those in the
forward-looking statements, due to factors such as market prices, exploration
and development successes, continued availability of capital and financing,
and general economic, market, political or business conditions. See our public
filings at http://www.sedar.com and
http://www.sec.gov/edgar/searchedgar/webusers.htm for further information.
For further information:
For further information: Thom Jewell, CEO of Austral Pacific Energy
Ltd., +64 (4) 495 0880; or Brad Holmes, +1-713-304-6962, for Austral Pacific
Energy Ltd. Web Site: http://www.austral-pacific.com