Nu-Oil and Gas reconsiders capital raising after collapse of broker Beaufort

Writer, Stock Market Wire
Monday, March 5, 2018 - 14:05

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

Related content

Nu-Oil and Gas to defend costs claim from Canada partner PVF

Nu-Oil and Gas said it would defend a claim lodged by a joint venture partner in Canada that is pursuing the costs of well work....

Fri, 12/07/2019 - 08:00

Nu-Oil and Gas venture joins with Petrofrac to develop stranded gas resources

Nu-Oil and Gas said that its 50%-owned Marginal Field Development Company joint venture had entered into a collaboration agreement with Petrofrac.

The companies would pursue...

Wed, 19/06/2019 - 09:13

Nu-Oil and Gas to raise capital for gas-to-power play

Nu-Oil and Gas launched a share issue to raise up to £250k to help fund a gas-to-power project.

New shares in the company would be...

Fri, 12/04/2019 - 07:37

Nu-Oil and Gas books first-half loss, raises capital

Nu-Oil and Gas booked a first-half loss and said it would raise capital through a share issue.

Pre-tax losses for the six months through December...

Fri, 29/03/2019 - 13:32

Nu-Oil and Gas welcomes collaboration pact between MFDevCo and Siemens

Nu-Oil and Gas confirmed that Marginal Field Development Company, in which it owned a 50% stake, had entered into a collaboration agreement with Siemens.


Tue, 12/02/2019 - 08:15