Black Marlin Energy
East African Oil Exploration and Production
The opening of what is now the Indian Ocean and the associated rifting set up ideal conditions for the development of a prolific source system in east Africa.
Corporate update - New Director
Seismic program commences on Kenya Block L17/18
Petronas starts drilling first well in Ogaden, Ethiopia
Oil Exploration: China Starts Work on Kenya's Deepest Drill as Hopes Rise
New additions to the Black Marlin team
BMEL announces new management and the start of its fund-raising campaign
Petronas starts drilling first well in Ogaden, Ethiopia -The Malaysian oil and gas giant, Petronas, started drilling two weeks ago the first wildcat well in the Ogaden basin in the Genale block. |
| Year | Number of Shares | Placement price (2) | Raised (1) |
| Founder shares | 43,250,000 | US$0.00 | US$0.00 |
2006 |
20,000,000 | US$0.20 | US$4,000,000 |
|
5,583,335 | US$0.2686 | US$1,500,000 |
2007 |
19,999,997 | US$0.30 | US$6,000,000 |
2008 |
1,666,667 | US$0.30 | US$500,000 |
|
35,419,125 | US$0.4235 | US$15,000,000 |
|
8,333,334 | US$0.60 | US$5,000,000 |
| 2010 | 114,003,000 |
C$0.50 | C$30,000,000 |
| Total over placings | 202,003,000 | US$62 million raised (on C$1:US$1 basis) |
Note:
(1) These amounts represent gross proceeds prior to deducting any placement costs.
(2) The placement price of the Black Marlin Shares is equal to par value of $0.20 plus any premium as decided by the Black Marlin Board at the time of the private placement.