Cooper Energy approves Sole development

The board of ASX-listed Cooper Energy has approved the development of the Sole gas project, offshore Victoria, with the company launching a A$151-million capital raise as part of its financing initiative to fund the project. The Sole gas project is expected to require a capital investment of some A$533-million for its upstream development, with some 25 PJ/y to be produced from the Sole gasfield and supplied to users in south-east Australia.