United States focused oil & gas producer AusTex Oil Ltd. (OTC: ATXDY) announced an equity capital raising to raise up to A$12.5 million, which will fund the appraisal and development of the company's acreage in the light oil sweet spot of the Mississippi Lime play.

The 0ffer comprises: a placement of approximately 83.3 million new fully paid ordinary shares to sophisticated and professional investors at a price of $0.12 per share, which raised $10.0million; and, a share purchase plan of up to $15,000 per eligible shareholder at the issue price ...