Baraka Petroleum postpones A$35 million private placement

By Sheri Kasprzak

New York, June 21 - Baraka Petroleum Ltd. has put off its previously announced A$35 million private placement, citing "weakening market conditions."

The company had intended to sell 50 million shares in the offering through agent Royal Bank of Canada.

Baraka said it will revisit the offering later this year after monitoring market conditions.

Located in West Perth, Western Australia, Baraka is an oil and natural gas exploration company.

The stock gained half a cent on Wednesday to close at A$0.195 (Australia: BKP).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.