Media Release: Clayton Utz advises Conrad Asia Energy on its $9 million equity raising

Corporate partners Mark Paganin and Stephen Neale are leading the firm's team together with senior associate William Davies, with key support from senior associate Tashreen Tourabaly and lawyers Victoria Bandurski and Ally Clark.

The first tranche of the placement is to institutional and sophisticated investors to raise $6.1 million, and the second tranche is to raise $2.9 million from directors of Conrad subject to the approval of holders of Conrad CHESS Depositary Interests (CDIs). CDI holder approval will be sought at Conrad's Annual General Meeting in June 2025.

Clayton Utz's role in advising Conrad follows the firm acting for Conrad on its IPO and ASX listing in 2022 and more recently on its placement and security purchase plan in February 2024.

Conrad is an Asia-focused natural gas exploration & production company concentrated on the shallow waters offshore Indonesia, and via its wholly owned subsidiaries, is the holder of several operated tenements in the form of Production Sharing Contracts. Conrad's flagship project is the Mako Gas Field located in the Natuna Sea in the shallow offshore waters of Indonesia.