Eland Oil & Gas, an oil & gas exploration company operating in West Africa, with an initial focus on Nigeria, has reported the completion by its Nigerian joint venture company Elcrest, of the purchase of licence OML 40 and the placing of new ordinary shares in the capital of the Company with investors to raise gross proceeds of £118 million.

Eland is also pleased to announce the admission of all of its ordinary share capital (including the Placing Shares) to trading on the AIM market of the London Stock Exchange at 08.00 today, symbol ELA.

Tags: Eland Oil & Gas