Business
Placing
Placing.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n Gold Oil PLC\n02 June 2006\n\n\n\n\n\n\nFOR IMMEDIATE RELEASE 2nd June 2006\n\n\n GOLD OIL PLC ('Gold Oil' or 'the Company')\n Placing\n\n\nPLACING\n\nGold Oil announces that it has placed forty seven million (47,000,000) new\nOrdinary Shares of 0.025p at a price of 5.5p each, together with a one for two\nshare warrant exercisable before December 31 2006 at a strike price of 7.5p\neach. The new Ordinary Shares will, on issue, rank pari passu with the\nexisting Ordinary Shares in issue and application will be made to the London\nStock Exchange for these shares to be traded on AIM. It is expected that\ndealings in the Placing Shares will commence on 9th June 2006.\n\nThe Placing will raise £2.5 million ($US 4.8 million), before expenses, for the\ncontinuing working capital requirements of the Company. The Company has a\nnumber of projects that now require investment to progress them as well as a\nnumber under review. The proceeds of the Placing will enable the Company to\ncontinue studies, shoot selected seismic and drill on prospects identified. \nThe Board also believe that having a reasonable cash balance readily to hand is \nnecessary to assure government authorities that it is capable of meeting its\nwork obligations under the various licences and applications as well as\nenhancing its ability to move quickly in respect of suitable opportunities that \nthe Company has identified to increase the Company's asset base.\n\n\nEnquiries:\n\n\nGary Moore\nManaging Director Tel: +44 (0)1737833597\n\n\nMichael Burchell\nChairman Tel. +44 (0) 1372361772\n\n\nRoland Cornish\nNominated Adviser\nBeaumont Cornish Limited Tel. +44 (0) 207 628 3396\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2058,"tagName":"div"}]