Raven Energy Limited (ASX:REL) announced a private placement of 2000,000,000 shares at an issue price of AUD 0.001 for gross proceeds of AUD 2,000,000 on October 31, 2018. The transaction will involve the participation of Pancontinental Oil & Gas NL (ASX:PCL) for 160,000,000 Shares. The transaction is expected to close by 31 December 2018 subject to shareholder approval.