UK Oil & Gas confirms fundraising talks

10th Jun 2015 15:22

UK Oil & Gas Investments, which is currently exploring oil reserves in the Horse Hill area near Gatwick Airport, confirmed media speculation on Wednesday that it is in talks with investors about raising funds.The company said it is currently in talks with potential investors for a fundraising of at least £4.5m at a targeted price of around 2.25p.It added that there is no assurance the company will proceed with any fundraising.At 15:26, shares were down 0.4% at 2.49p.

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