Magnolia Petroleum has signed an agreement for a £10 million Equity Financing Facility (EFF) with Darwin Strategic Limited (Darwin), a majority owned subsidiary of Henderson Global Investors' Alphagen Volantis fund. The EFF will be used, at the Company's discretion, to further expedite the Company's existing growth and investment strategy.

Following the recent announcements made by the Company, it intends to seek out further acquisitions of both producing and non-producing interests in the highly productive Bakken / Three Forks Sanish hydrocarbon formations in North Dakota as well as in the oil rich Mississippi Formation located in Oklahoma and the substantial and proven Woodford/Hunton reservoirs also in Oklahoma.

Tags: Magnolia Petroleum