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Placing to keep buoy strategy afloat

Small cap oil and gas company NU-Oil And Gas (NUOG:AIM) is proceeding with its unmanned buoy production solution for marginal oil fields after raising £700,000. The company, formerly called Enegi Oil, aims to secure its first development project. The shares soared on 5 October 2016 to 0.7p when service group Aibel agreed to become an engineer partner. (TS)

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