Dart Energy to Raise Funds

Coal Seam Gas focused Dart Energy plans raise about A$100 million ($105.4 million) in advance its planned drilling program.

Dart said it was fully funded to meet its minimum committed expenditure this year, but the additional funds would allow it to fast-track work on its resource base and establish "commerciality" at several projects.

Chief executive Simon Potter said the fund raising would open the door for the company to speed up exploration, appraisal and early development of its assets to the point where funding options other than equity become viable.