Dominion Petroleum Prepares $50 m Share Placing
Source: Reuters 3/1/2010, Location: Africa
Investment Services
Dominion Petroleum is preparing a $50 million share placing to finance a drilling campaign in Uganda, the Financial Times reported.
The placing by the London-listed company would allow the East and Central-Africa focused oil and gas explorer to proceed with its drilling projects, without having to sell stakes in its prospects to other rivals, the paper said.
The London-listed company would also use some of the funds from the placing to carry out seismic data tests on its offshore assets in Tanzania, the FT said.
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