Scandoil  

MX Oil to invest in OML 113, offshore Nigeria


Published Jul 14, 2015
MX Oil plc

MX Oil plc has agreed to invest in an indirect, non-operated, 5% revenue interest in the OML 113 licence, offshore Nigeria, which includes the Aje Field, a substantial development stage project with proven, flow tested discoveries where production is expected by January 2016.

This investment is in line with the Company's strategy to acquire high impact near term production assets in proven oil and gas jurisdictions to build a cash generative platform.

In addition, the Company announces the issue of 133,333,333 new ordinary shares via a placing at 4.5p per share to raise £6 million before expenses to provide additional working capital and funding for future capital expenditure and investment.

Tags: MX Oil plc




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml