Real Energy Corporation (ASX: RLE) has been a solid performer in its first few days of public life, with its shares trading in a range from $0.17 to $0.225.
Real Energy made a significant achievement in raising $10 million from its oversubscribed initial public offering of 40 million shares priced at $0.25 each, in a time of still difficult capital markets.
This highlights investor confidence in the company's oil and gas assets in the Cooper-Eromanga Basin, Queensland.
Real Energy is focused on the unconventional basin-centred gas, shale oil and conventional oil opportunities present in its ATP 917P, ATP 927P and ATP 1161PA tenements.
To further highlight the prospectivity of these tenements, its neighbours include major producers such as Santos (ASX: STO), Beach Energy (ASX: BPT), Drillsearch Energy (ASX: DLS) and Senex Energy (ASX: SXY).
The company’s directors and senior officers are mostly former executives of oil and gas producer Mosaic Oil, which was acquired by AGL Energy (ASX: AGK) in 2010 for $142 million.
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