President Energy places 5.5m open offer shares

President Energy, an oil and gas producer, has announced the placing of just over 5.5m open offer shares at 20p each, representing around 27.69 per cent of the shares offered on September 12th.

President Energy, an oil and gas producer, has announced the placing of just over 5.5m open offer shares at 20p each, representing around 27.69 per cent of the shares offered on September 12th.

The transaction raised a total of £24.28m, with a further £3.75m conditionally raised following the completion of President Energy's farm-in agreement, under which it will earn a 59% and 60% interest in the Pirity Block and Demattei Block, respectively, in Paraguay.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.