News: Cossack Energy to update Polish acquisition, raise capital

Oil and gas explorer Cossack Energy (ASX:COD) has been granted a trading halt by the ASX this morning, with its shares placed in pre-open.

COD is preparing details concerning its Polish acquisition, along with a capital raising.

Recently the company signed a Binding Heads of Agreement signed with private company Iskander Energy to acquire their 24% Joint Venture Interest in the Bieszczady Project in Poland.

Last month the company completed an oversubscribed $2.5 million placement.

The halt will remain in place until the opening of trade on Wednesday 9th July 2014, or earlier if an announcement is made to the market.