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RXT conducts private placement
4 December 2006
In accordance with an authorisation given to the Board in the Extraordinary General Meeting held 20 November 2006, Reservoir Exploration Technology ASA (RXT) will conduct a Private Placement with gross proceeds amounting to NOK 270 million.
The subscription period is expected to close 13th December 2006 at 4pm Norwegian time.
The Private Placement will be carried out as a bookbuilding process with an indicative price range between NOK 48-55 per share.
For further information and a presentation of the company, please contact CFO Odd Erik Rudshaug in RXT.
Cell : + 47 41612858
Reservoir Exploration Technology ASA (RXT) is a marine geophysical company specializing in multi component seismic sea-floor acquisition. Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic, and targets improved oil recovery from existing fields. The technology also gives better data quality for exploration, and is also the solution where towed streamers are impractical due to high density of platforms and/ or shallow waters. The Company has offices in Oslo, London and Houston.
RXT has applied for listing at the Oslo Stock Exchange in December 2006. RXTs stock is currently listed at the Norwegian OTC.