Media Release: Clayton Utz advises Conrad Asia Energy on its $16 million equity raising

Corporate partners Mark Paganin and Stephen Neale are leading our team together with senior associates William Davies and Tashreen Tourabaly, with key support from lawyers Victoria Bandurski, Matthew Ledger and Daniel Martinez.

The raising comprises a $13 million placement at $0.95 per CHESS Depositary Interest to new and existing institutional and sophisticated investors. The raising also comprises a SPP at $0.95 per CDI to raise $2.85 million with the ability to accept oversubscriptions. Wilsons and Bell Potter acted as joint lead managers to the placement.

Conrad intends to use the proceeds of the placement and SPP (net of costs and expenses) for exploration studies and seismic at Aceh, general project costs and general and administrative expenses.

Clayton Utz's role in advising Conrad follows the firm acting for Conrad on its successful IPO and ASX listing which completed on 27 October 2022.

Conrad is an Asia-focused natural gas exploration & production company concentrated on the shallow waters offshore Indonesia, and via its wholly owned subsidiaries, is the holder of several operated tenements in the form of Production Sharing Contracts. Conrad's flagship project is the Mako Gas Field located in the Natuna Sea in the shallow offshore waters of Indonesia.

Commenting on the deal, Stephen Neale said:

After advising on its successful IPO and ASX listing that was completed in October 2022, it's been a pleasure to work with Conrad again on another exciting milestone for the company — its successful $16 million equity raising. Our Equity Capital Markets team looks forward to supporting Conrad's business growth in future.