Zeta Petroleum PLC (ASX:ZTA) has been granted a trading halt by the ASX, pending details of a potential oil and gas acquisition.
The halt will remain in place until the opening of trade on Friday 21st April 2017, or earlier if an announcement is made to the market.
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Shares in the AIM-listed group soared 20% higher on Tuesday after it said the new IO#7 plant will be based around its existing IO#3 operations in Oklahoma - hitherto Iofina’s highest cost per kilo plant
The AIM-quoted China-focussed well driller has been boosted by new deals with PetroChina.
“We are now in the process of starting to unlock the inherent value in our asset base,” said chief executive Andrew Knott.