Bengal Energy Announces $8.0 Million Private Placement to Fund Acquisition of Additional Interest in Cuisinier

CALGARY, July 4, 2013 /CNW/ - Bengal Energy (TSX: BNG) ("Bengal", or the "Company") is pleased to announce that it will be conducting a non-brokered private placement of 8,000 units ("Units") of the Company at a price of $1,000 per Unit for aggregate gross proceeds of $8.0 million (the "Private Placement"). The proceeds from the Private Placement will be used to fund the Company's previously announced exercise of a pre-emptive right to purchase an additional 5.357% interest in the Cuisinier Oil Field and Authority to Prospect ("ATP") 752P (the "Acquisition") in the Cooper-Eromanga Basin in Queensland, Australia,. Upon completion of the Acquisition, the Company's total ownership in Cuisinier...