Nu-Oil and Gas said it was reconsidering whether to proceed with a planned capital raising following the collapse of broker Beaufort Securities.
'The company's preference is to complete the agreed fund raise but we will require guarantees that the transaction can be concluded without any exposure to [Beaufort] and this is what we are actively seeking,' the company said.
Nu-Oil and Gas appointed Strand Hanson as broker on an interim basis in addition to its primary role as the company's financial and nominated adviser.
'We are actively seeking to appoint a permanent broker, which we hope to announce in short order,' the company said.
At 2:05pm: (LON:NUOG) Nuoil And Gas Plc share price was 0p at 1.22p