Business
Placing of Shares
Placing of Shares.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n \n\n\n\nFor Immediate Release\n 31 July 2008\n GOLD OIL plc\n (\"Gold\" or \"the Company\")\n Placing of Shares\nGold Oil plc (the \"Company\") announces that a total of 22,950,000\nexisting ordinary shares of the Company (the \"Placing Shares\") have\nbeen placed with institutions by Blue Oar Securities at a price of 8\npence per Placing Share, raising £1.836 million before expenses.\nThe placing shares comprise the 22,950,000 existing and issued shares\nreturned to the Company as a result of the termination of its\narrangements with Minmet plc (\"Minmet\") concerning oil and gas\ninterests in Cuba and Latin America, previously announced on 2\nNovember 2007.\nThe net proceeds of the placing will go towards funding the\nacquisition of Inversiones Petroleras de Colombia S.A.\n('Invepetrol'), as announced on 8 July 2008, for a total\nconsideration of $4 million. Invepetrol owns an 18.05% participating\ninterest in the Union Temporal II & B that is the Operator and\nLicence holder of the Nancy, Burdine and Maxine oil fields in the\nPutumayo Basin in Southern Colombia. The Company already owns a 40%\ninterest in Union Temporal and this will takes the Company's total\ninterest to 58.05% (27.29% of net production.) The Company\nanticipates making an initial payment of $1 million and the balance\nat a later date.\nFollowing transfer of the Placing Shares, Gold Oil's issued share\ncapital will not be altered and will consist of 483,128,909 ordinary\nshares of 0.025 p each. The Company does not hold any Ordinary Shares\nin Treasury. Therefore the total number of Ordinary Shares in the\nCompany with voting rights is 483,128,909.\nThe above figure of 483,128,909 Ordinary Shares may be used by\nshareholders in the Company as the denominator for the calculations\nby which they will determine if they are required to notify their\ninterest in, or a change to their interest in, the share capital of\nthe Company under the Financial Service Authority's Disclosure and\nTransparency Rules.\nFor further information, please contact:\nMichael Burchell, Chairman 01372 361 772\nRoland Cornish, Beaumont Cornish Limited 020 7628 3396\nJerry Keen, Blue Oar Securities 020 7448 4492\nJonathan Charles, Conduit PR 020 7429 6611\n\n---END OF MESSAGE---\n\n\n\n\n\n\n\n\n \n ","length":2493,"tagName":"div"}]