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

Writer, Stock Market Wire
Friday, April 12, 2019 - 07:37

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 issued at 0.3p each.

Nu-Oil and Gas said the proceeds would contribute towards a number of developments in the coming months.

'In particular, the proceeds will primarily be applied to the company's general working capital requirements, including support of MFDevCo's implementation of its gas-to-wire initiative,' it added.

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