New World Oil and Gas raises proceeds for Belize well

New World Oil and Gas shares plunged Thursday as the oil and gas company said it has raised 6.3 million pounds to test and appraise the Rio Bravo 1 well in Belize, Central America.

New World Oil and Gas shares plunged Thursday as the oil and gas company said it has raised 6.3 million pounds to test and appraise the Rio Bravo 1 well in Belize, Central America.

The group raised the proceeds through the issue of 315m new ordinary shares at a price of 2.0p each.

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