Change: offered +0% / raised +33% / placed 53%
The planned $930,000 financing was reported by Bonfire Energy as 53% completed. Prior investors ponied up an additional $121,000. They had previously subscribed to $367,000 in securities according to another filing disclosed on March 7th. So far, six backers committed $488,000 to Bonfire Energy’s offering. The private placement’s expected net proceeds will amount to $884,000, excluding $47,000 paid in brokerage fees by the company. The subscription will close either once the offering is sold in full or in almost a year, whichever one comes first.
The company is an oil and gas operator utilizing technology and experience to acquire, drill, rework and produce oil and gas. It targets established reserves by identifying infill opportunities, or utilizing new technology to target reworks of wells in older fields. It seeks out and acquires land and leases throughout the state of Texas.
Richard E Rockwell (President) leads the Frisco TX based company which was registered in 2013. Bonfire Energy disclosed having revenues on or below $1 million.
Status: Intermediary close
Company: Bonfire Energy
Industry: Oil and Gas
Amount offered: $930,000
Amount placed: $488,000
First sale: 03-03-2014
Data as of: 03-26-2014