High Peak Royalties Ltd (ASX:HPR) substantial holder Noontide Investments Ltd has increased its holding in the company to 28.2% from 26.8%.
On April 30, the Sydney-based boutique investment company acquired more than 53.32 million shares under a follow-on public offering (FPO).
Energy outlook[hhmc]
HPR has seen a positive impact from the increased gas prices in Eastern Australia – reflected in the royalties received on the Peat Gas Field in Queensland for the December quarter of $33,000.
The company expects this trend to continue with Origin Energy Ltd (ASX:ORG) announcing that the Peat Gas field may have a significant increase in production in 2020 from extended horizontal wells and test results from the deep South Burunga-2 well.
Emmerson Resources change of interests[hhmc]
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