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Pura Vida Energy in pre open pending capital raising announcement

Pura Vida Energy (ASX: PVD) has been granted a trading halt pending a capital raising announcement.

The company had earlier this week said its work program on its flagship Mazagan permit offshore Morocco was progressing well ahead of schedule and that it would start the process of finding a farm-in partner in October 2012.

It expects the work program, which includes reprocessing 3000 square kilometres of 3D seismic and a drop core program to identify areas of active hydrocarbon generation and entrapment, to be completed by September, well ahead of its original target of December 2013.

To that end, it has appointed EZDataRoom to the task of managing the farm-out process.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 9th July.
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