Carpathian placement to fund development

Australian minnow Carpathian Resources is ready to step up development of its fields in the Czech Republic and is subsequently planning to place 15,000,000 fully paid ordinary shares.
Carpathian placement to fund development Carpathian placement to fund development Carpathian placement to fund development Carpathian placement to fund development Carpathian placement to fund development

Priced at seven cents (7c) per share the money raised will be used to cover the costs associated with the drilling of the Janovice-3 gas production well. The company said if insufficient funds are raised the funds will be used to cover the working capital of other operations until additional funds can be raised.

Any excess funds raised will be used to increase production from the Krasna Oil Field by installing a pump into and working over well Ks4 and installing a pump into Ks8.

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