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

Writer, Stock Market Wire
Friday, March 29, 2019 - 13:32

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 amounted to £972k, compared to losses of £916k on-year.

The main area of expense had been the continued implementation of the company's marginal field strategy, Nu-Oil and Gas said.

The company said it had raised £0.25m by issuing new shares at the company at 0.9p each.

Funds would support general working capital requirements.

At 1:32pm: (LON:NUOG) Nuoil And Gas Plc share price was -0.24p at 0.34p

Related content

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 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

Nu-Oil and Gas marginal field JV inks collaboration pact with Marvani

Nu-Oil and Gas said its Marginal Field Development Company joint venture had forged a collaboration agreement with Marvani.

MFDevCo would also seek to collaborate with...

Fri, 25/01/2019 - 08:10

Nu-Oil and Gas reports FY loss, but expects upturn in 2019

Nu-Oil and Gas reported a full-year loss for 2018, but believed it had the necessary foundations in place to see an upturn in activity in...

Fri, 28/12/2018 - 07:54

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

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...

Mon, 05/03/2018 - 14:05