Business
Bengal Energy Announces the Filing of a Preliminary Prospectus for Previously Announced $7.9 million Equity Financing and Provides an Update on Australian Properties
Jan. 18, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n Jan. 18, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nCALGARY, Jan. 18 /CNW/ - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to announce that it has filed a\n preliminary short form prospectus with respect to its previously\n announced $7.9 million financing (the "Offering").  The Offering is\n being conducted on a "bought deal" basis through a syndicate of\n underwriters led by Mackie Research Capital Corporation and including\n Wellington West Capital Markets Inc. and Toll Cross Securities Inc. \n The net proceeds from the Offering will be used to fund the Company's\n ongoing capital expenditure programs in Australia and India and for\n general working capital purposes.\n\n\nUpdate on Australian Properties\n\n\nAustralia's Cooper Basin experienced heavy rain and local flooding in\n December 2010 that has continued to date.  The Company currently has a\n 25% working interest in the Cuisinier 1 well (the "Cuisinier 1 Well"),\n which is located on the Barta sub-block ("Barta Block") of the Cooper\n Basin within Authority to Prospect ("ATP") 752P.  Production from the\n Cuisinier 1 Well is currently shut in as road closures related to the\n flooding have prevented the transportation of the Company's crude oil\n production to processing facilities.  Prior t...