Dart Energy (ASX:DTE) Shares to Trade on Thursday

Sydney, July 20, 2010 AEST (ABN Newswire) - Shares in Dart Energy Ltd (ASX:DTE) are scheduled to commence trading Thursday on a deferred settlement basis on ASX, with up to 367 million shares on issue.

Dart, a demerged entity of Arrow Energy (ASX:AOE), now control Arrow's six international assets, including Arrow's former coal seam gas (CSG) exploration interests in China, Indonesia and Vietnam, as well as interests in Bow Energy (ASX:BOW), Apollo Gas (ASX:AZO) and LNG International, and farm-in rights to Apollo's tenements in NSW.

Federal Court's approval of Arrow's Dart spin-off has paved the way for the A$3.4 billion joint takeover of Arrow by Shell (LON:RDSA) and PetroChina (SHA:601857) (HKG:0857).

Dart expects to seek about A$75 million, partly by institutional placement at the time of listing and partly by way of an additional capital raising.

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Michelle Liang Asia Business News Asia Bureau Tel: +61-2-9247-4344 Email: michelle.liang@abnnewswire.net