Petsec Energy Ltd (ASX:PSA) announced a private placement of 30,000,000 ordinary shares at AUD 0.02 per share to sophisticated investors for gross proceeds of AUD 600,000 on April 30, 2020. The company will receive AUD 200,000 in the first tranche before May 8, 2020 and AUD 400,000 in the second tranche by June 30, 2020.