12th Mar 2015 09:54
LONDON (Alliance News) - Oil and gas investing company Doriemus PLC on Thursday said it has raised GBP1.2 million via a share placing, money it will use to strengthen its balance sheet and on further farm-ins and investment opportunities in the UK oil and gas sector.
The company has issued 2 billion shares at 0.06 pence per share. The stock was down 15% to 0.0684 pence on Thursday. It will have 7.74 billion shares in issue once the placing shares are admitted to AIM.
"This new funding will be put towards general working capital, expected 2015 contributions for on-going work on the Horse Hill discovery and for assessing further acquisitions in the UK and European oil and gas sector," said Chairman Donald Strang.
By Sam Unsted; [email protected]; @SamUAtAlliance
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