Nighthawk remains jolly 09/02/2012
US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Victoria Oil in £14m placing
West Africa and Siberia-focused Victoria Oil & Gas has raised £14 million at 3.25p to pursue operations in both regions.
The fallen AIM star, steered by the indefatigable Kevin Foo, says funds from the placing, which was 40 per cent oversubscribed, will allow it to complete drilling and testing at Logbaba in Cameroon and conduct further passive seismic spectroscopy and geochemical surveys at West Medvezhye in Siberia. Victoria, which in August raised £6 million at 4.25p, says it has also drilled Well La-106 at Logbaba to its target depth of 5,495 ft and expects results in a few weeks.
Shares in Victoria, which were riding high in the mid-2000s before Russian setbacks, have swung between 6.7p and 2.88p over the past year and now trade at 3.5p. That values the company at £35 million.
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