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Article: United Kingdom: Black Rock Oil and Gas confirms [pounds sterling]2 millon cash injection.
- Article from:
- TendersInfo
- Article date:
- December 18, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Black Rock Oil & Gas has agreed the terms of a [pounds sterling]2 million cash injection that will see existing shareholders heavily diluted. Cetus Investment Resources Inc will subscribe conditionally [pounds sterling]2,000,000 for 200,000,000 new Ordinary Shares at 1p per share representing 86.147 per cent. of the enlarged issued share capital of Black Rock.
Cetus Investment has also conditionally committed to provide between [pounds sterling]5 million and [pounds sterling]10 million, subject to commercial and technical evaluation, for the next stage of Black Rocks exploration, appraisal and well development programme in Colombia.
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