Gulf Oil and Gas accountACCOUNT

Placing to Raise £400,000

Source: www.gulfoilandgas.com 9/26/2018, Location: Europe

Share |
The Directors of Petrel are pleased to announce that the Company has raised £400,000 (before expenses) via the placing of 21,621,622 ordinary shares (the "Placing Shares") with new investors at a price of 1.85p per Placing Share (the "Placing"). The Placing Shares represent approximately 20.68% of the Company's issued share capital, as enlarged by the Placing.

The net proceeds of the Placing will fund any costs associated with the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects.

The Placing shares will rank pari passu with the Company's existing ordinary shares of €0.125 each (the "Ordinary Shares"). Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will become effective on or around 11th October 2018.

Following the Admission of the Placing Shares, there will be a total of 104,557,246 Ordinary Shares in issue with each share carrying the right of one vote. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Financials and Investment News in Ireland >>

Tanzania >>  10/4/2018 - The Company announces that, as a result of payment defaults by Bounty Oil & Gas NL (“Bounty”) under the joint operating agreements relating to the Kil...
Niger >>  9/28/2018 - Savannah Petroleum PLC, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, is pleased to announce...

Ireland >>  9/26/2018 - The Directors of Petrel are pleased to announce that the Company has raised £400,000 (before expenses) via the placing of 21,621,622 ordinary shares (...
Oman >>  9/18/2018 - Duqm Refinery launched its In-Country Value (ICV) Programme Opportunities Forum at the Crowne Plaza Hotel in Duqm. The launch of the programme coincid...

Vietnam >>  9/17/2018 - SOCO has signed a new US$125 million Reserve Based Lending Facility (“RBL”) secured against the Group’s producing assets in Vietnam. In addition to th...
Egypt >>  9/25/2014 - Egypt's state-run Egyptian General Petroleum Corporation (EGPC) declared that Egypt received a share of the foreign partner’s oil and gas revenues of ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Ireland Oil & Gas 1 >>  2 |

More News

 

Oil & Gas Companies in Ireland >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.