Oil & Gas Corporate News
Matra Petroleum (LON:MTA) PLC (UNDER REVIEW) (MTA LN, 0.60p, ? 0.0%) today announced a placing, through Fox-Davies Capital Limited, of 170,000,000 new ordinary shares (the ?Placing Shares?) at 0.5p per share to raise £850,000 before expenses (the ?Placing?). The funds raised under the Placing will be used for working capital and to initiate production from Well A-13, the Sokolovskoe Field. Application has been made to the London Stock Exchange for admission of the Placing Shares to trading on AIM (?Admission"). It is expected that Admission will become effective and that trading in the Placing Shares will commence on or about 16 November 2011. The Placing Shares will rank pari passu in all respects with existing ordinary shares in the Company. Following Admission, the Company will have 1,284,917,872 ordinary shares in issue. This figure may be used by shareholders in the Company as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest, under the Disclosure and Transparency Rules. In addition it is anticipated that Delek Energy Systems Ltd will subscribe for a further new 70,000,000 new ordinary shares at 0.5p per share next week to raise a further £350,000 and when completed will bring the total proceeds raised to £1.2 million.
The Company also announces the appointment of Fox-Davies Capital Limited as broker to the Company, replacing Matrix Corporate Capital LLP.
Victoria Oil & Gas PLC (BUY, 13p) (VOG LN, 4.00p, ? 0.25%) today announced that the Company has issued 63,500,000 ordinary shares to the Trustee of the Company's Employee Share Ownership Plan ("VOG ESOP"). A further 500,000 ordinary shares have been allotted to an advisor to the Company. An application has been made to the London Stock Exchange for 64,000,000 ordinary shares to be admitted to trading on AIM and it is expected that admission will occur at 8.00 a.m. on 16 November 2011. Following admission, the Company will have 2,569,016,237 ordinary shares in issue. The new ordinary shares will rank pari passu in all respects with the existing ordinary shares. In addition, the Company has been notified that on 9 November, Mr Grant Manheim, the Deputy Chairman of the Company, was awarded 4,800,000 ordinary shares by the VOG ESOP, which he sold at an average price of 4.12p per share to…
