American Patriot Oil and Gas (ASX:AOW) has completed a successful initial public offering, raising $8 million at $0.20 per share.
The company hit the ASX boards yesterday and traded close to 1.5 million shares - closing the day at $0.17.
The company is an oil and natural gas exploration and development group, focused on opportunities in Rocky Mountain Basins in the U.S., and has 56,000 Gross Acres with 25,210 net Acres under lease across 5 projects.
The Northern Star Project is currently American Patriot’s key investment area of focus.
The company has a 30% Working Interest in the Northern Star Project which covers 36,714 Gross Acres, with 9,233 Net Acres on the Wolf Creek Nose, up dip and surrounding the Lustre Field in Valley County, Montana USA.
AOW has executed a binding contract with Treasure Exploration to explore for oil within an area of mutual interest and for free carry on 2 exploration wells drilling in the next 18 months, plus an option for two more wells.
AOW's other projects are Rough House, Panther, Southern Sun and Overthrust.
