Matra Petroleum, an independent oil and gas exploration and production company, has raised £0.35m in the second stage of a placing, bringing its total to £1.2m.
The firm placed the further 70m shares with Delek Energy Systems on top of the 170m already placed.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm anticipates that the shares will begin trading on AIM on or around 22 November.
Managing director Peter Hind said: "We are delighted that Delek has participated in this placing and continues to strongly support Matra in progressing the development of the Sokolovskoe Field."
The share price rose 4.35% to 0.6p by 12:58.
NR
-
Zoopla: Property tax speculation creates uncertainty for a third of home buyersProperty tax rumours could impact homes valued at over £500,000, potentially triggering a housing market slowdown, Zoopla has warned
-
Is the Financial Conduct Authority really contacting you? How to spot a scamFraudsters are impersonating the City watchdog to steal money from older people. Here is how to spot the scammers.
