Blake Dawson has acted for Drillsearch Energy Limited in a capital raising comprising two placements to institutional investors (one of which is subject to shareholder approval at a general meeting to be held on or about 17 June 2011) and a 3-for-20 non-renounceable pro-rata entitlement offer to eligible shareholders to raise approximately $48 million.

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Drillsearch will use the proceeds from the capital raising primarily to progress the PEL 91 oil exploration and development program, develop the PEL 106B wet gas pilot project and undertake a broad exploration program across Drillsearch's oil, wet gas and unconventional businesses.

The entitlement offer is fully underwritten by Wilson HTM.

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The Blake Dawson team comprises Bill Koeck, Anton Harris, Elizabeth Hourigan and Nicholas Perkins.