Advance Energy PLC - upstream oil and gas company - Share suspension lifted after publishing admission document for the acquisition of a 50% interest in Carnarvon Petroleum Timor Unipessoal Lda. Carnarvon Petroleum Timor holds a 100% working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Conditionally raises GBP21.8 million via issue of 840.1 million share shares at 2.6p each. "The fundraise enables the completion of the transformative transaction with Carnarvon Petroleum, and we can now look forward with confidence to the exciting B-10 appraisal well later this year which represents a material value catalyst for Advance Energy and its shareholders," says Chief Executive Leslie Peterkin.
Current stock price: 0.27 pence
Year-to-date change: suspended
By Paul McGowan; paulmcgowan@alliancenews.com
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