Entek to grab some Niobrara cash

ENTEK Energy will raise $25.2 million through a two-tranche placement to sophisticated investors and a non-renounceable entitlement issue to evaluate and develop its Niobrara shale project.

The cash will also be used to chase additional Niobrara acreage opportunities, undertake an appraisal and development work program in the Gulf of Mexico and add to general working capital.

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