Fremont Petroleum Corporation Ltd (ASX: FPL) (“Fremont” or “the Company”) advises that drilling of the J.W. Powell #23-25 Well has intersected oil and gas hydrocarbons during drilling. The Niobrara Formation recorded a total thickness of 537 feet in this well.
This prospectus contains the following offers:
(a)For an issue of 257,142,861 Options, on the basis of one (1) new Option for every two (2) Shares subscribed for by Subscribers under the Placement (Placement Offer) to Eligible Applicants who participated in the Placement.
(b)For an issue of 50,000,000 Advisor Options to the Advisors as part of the consideration for assisting with the Placement Offer (Advisor Offer).
(c)For an issue of 13,571,429 Options to Directors under the Placement (Director Offer).
(d)For an issue of 357,143 Options to the Previous Placement Subscriber under the Previous Placement (Previous Placement Offer)