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LONDON (Alliance News) - Angus Energy PLC on Wednesday confirmed it is in talks over a potential GBP2.0 million fundraising to fund an acquisition.
Angus was responding to media reports of a fundraise, with an article appearing Tuesday in the Evening Standard suggesting it would be raising GBP2.0 million to GBP3.0 million.
Angus gave no details as to how many shares would be offered, nor at what price.
The company confirmed it has received Oil & Gas Authority approval for the purchase of a 25% interest in the PEDL244 Balcombe licence in Sussex, which was announced mid-February, for GBP1.9 million.
The oil and gas firm said the payment is now due, and it expects to conclude this "shortly".
A week before it announced the Balcombe purchase it raised GBP2.0 million, after placing 33.3 million new shares at 6.00 pence each.
Shares were down 11% Wednesday at 6.25 pence each.