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Chariot placing raises £30.8m
Tuesday, 20th March 2012
Chariot Oil & Gas has raised £30,8m through a conditional placing of 18,110,400 new ordinary shares at 170p apiece.Chariot says the net proceeds provide an immediate boost to the company's already strong working capital position.
It says the placing:
* enables a new, long term supportive investor to take a meaningful stake in the company
* allows for the drilling through to the base of a deeper identified target in the Tapir South exploration well
* increases options for follow up activity and insulates against rising industry costs
Story provided by StockMarketWire.com
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