December 31, 2018 / 7:42 AM / 5 months ago

UK's Cabot Energy says must clinch January equity raise

Dec 31 (Reuters) - Oil and gas company Cabot Energy Plc warned on Monday that it might not be able to operate as a going concern if it does not raise money from shareholders in January to fund its operations and settle debt, hurt by lower Canadian crude oil revenue and contract prices.

AIM-listed Cabot said it was in talks with major shareholders and was “reasonably optimistic” of raising additional equity funding from old and new investors in the company, while expecting any financing to be at a “deep discount” to its current market price. (Reporting by Pushkala Aripaka in Bengaluru; editing by Patrick Graham)

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