12th Apr 2019 11:03
LONDON (Alliance News) - Nu-Oil & Gas PLC on Friday said it has launched an open offer to raise up to GBP250,000 to help find some acquisitions.
The company will issue up to 83.3 million shares at 0.3 pence each, on the basis of one open offer share for every 17.31 existing share held.
Nu-Oil shares were trading up 1.1% at 0.29p each on Friday morning.
The funds raised will help the firm pursue "marginal field opportunities", in particular gas-to-wire opportunities, and the acquisition of "value-accretive oil and gas assets".