RockBridge Resources Inc., Calgary, (Toronto Venture: RBE) is undertaking a non-brokered private placement of convertible debentures offered in units of $50,000.
Each convertible debentures unit will have a term of two years, pay an interest of 7% semiannually and be convertible into 312,500 common shares of the company. The unit holder will also receive 156,250 warrants exercisable to purchase one regular common share at $0.25 for one year. The maximum size of the offering is $350,000 and the closing date is to be determined by the company.
Additionally, RockBridge has modified a non-brokered private placement of common shares announced on March 17. The offering will be increased to 4 million units at $0.14 per unit.
Proceeds of the private placement will be utilized to fund RockBridge's completion, equipping, and land acquisition operations at its Pembina Cardium Oil properties.
Recommended Reading
Hot Permian Pie: Birch’s Scorching New Dean Wells in Dawson County
2024-10-15 - Birch Resources is continuing its big-oil-well streak in the Dean formation in southern Dawson County with two new wells IP’ing up to 2,768 bbl/d.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Aris Water Solutions’ Answers to Permian’s Produced Water Problem
2024-12-04 - Aris Water Solutions has some answers to one of the Permian’s biggest headwinds—produced water management—but there’s still a ways to go, said CEO Amanda Brock at the DUG Executive Oil Conference & Expo.
Wildcatting is Back: The New Lower 48 Oil Plays
2024-12-15 - Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.