for more than 10-times their investment.Street Talk’s spotted somewhere Flannery and his family may be looking to spend some of their newfound loot.
The Flannerys are Omega’s biggest shareholder pre-listing, and are said to be tipping $5 million into a $15 million initial public offering for Bowen Basin junior Omega Oil and Gas. Flannery’s son Quentin also has a board seat. Omega has told potential investors it would use IPO funds raised for drilling, casing and testing at its ATP2037 and ATP2038 sites, according to an investor presentation seen by Street Talk.
Should it get its $15 million, the company would be worth $27.5 million on a market capitalisation basis and list in early October. Prenzler Group is lead manager. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.