RH Petrogas

RH Petrogas: Two days after the 13% gain on Monday before RH Petrogas called for a trading halt, group proposed a private placement of 116m new shares @ $0.63/share, a discount of 9.5% to VWAP on last trading day, through UOB Kay Hian as agent. New shares will represent 18.9% of existing issued share capital and will be increased to 731.3m shares. 90% of net proceeds of $70.2m will be used to fund expenses in relation to exploration, development or production activities of Salawati Basin and Salawati Island; and the balance of the net proceeds for the general working capital. Counter will commence trading at 9am.