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Eland Oil & Gas PLC (ELA.L)

ELA.L on London Stock Exchange

60.25GBp
12:14pm EDT
Change (% chg)

3.25 (+5.70%)
Prev Close
57.00
Open
56.75
Day's High
61.00
Day's Low
56.75
Volume
803,602
Avg. Vol
311,549
52-wk High
62.00
52-wk Low
22.17

Latest Key Developments (Source: Significant Developments)

Eland Oil & Gas PLC announces placing to raise $15 million
Friday, 29 Apr 2016 02:00am EDT 

Eland Oil & Gas PLC:Says proposed placing of new voting ordinary shares and, as required, non-voting right ordinary shares, each of 10 pence each in the company by way of accelerated bookbuild in order to raise proceeds of about $15 million (gross), with option for enlargement.Says it is expected that placing price will be at, or around, 34 pence per placing share.Says net proceeds of the Placing will be used to fund re-entry, completion and production of the Gbetiokun-1 well, an existing discovery within the OML 40 licence.To develop a supplementary export route for such production; and for working capital purposes.  Full Article

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