Dec 11 (Reuters) - Odin Energy Ltd ODN.AX :
* Says company intends to proceed with a rights issue offer to shareholders
* Offer will be a 1:5 non-renounceable issue at 1.2 cents per share to raise approximately $635,000 before costs
* Funds raised will be used to fund due diligence and re- compliance costs
* Source text for Eikon ID:nASXbKzWsf