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Markets

UK Oil & Gas raises £4m for Weald Basin activities

UK Oil & Gas (UKOG) said it has raised £4million through the placing of new ordinary shares in the company.
By Niamh Burns
26/05/2016, 12:08 pm
Market info
Market info

UK Oil & Gas (UKOG) said it has raised £4million through the placing of new ordinary shares in the company.

The proceeds of the placing will be used to supplement the company’s existing balances to facilitate its Weald Basin portfolio activities.

In a statement UKOG said it was also for potential investment into new Weald Basin and Southern UK onshore oil and gas activities within the company’s investment strategy.

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