Mongolian explorer raises +AKM-13.7m through share placing

+ADw-p class+AD0AIg-gu+ACIAPgA8-span class+AD0AIg-gl+ACIAPg-Mongolian oil explorer Petro Matad has raised +AKM-13.7 million through the placing of 136m shares.+ADw-/span+AD4APA-/p+AD4
+ADw-p class+AD0AIg-gu+ACIAPgA8-span class+AD0AIg-gd+ACIAPg-The new shares represent+ADw-/span+AD4 +ADw-span class+AD0AIg-gl+ACIAPg-26.05+ACUAoAA8-/span+AD4APA-span class+AD0AIg-gj+ACIAPg-of the company+IBk-s existing capital.+ADw-/span+AD4APA-/p+AD4
+ADw-p class+AD0AIg-a+ACIAPgA8-span class+AD0AIg-gl+ACIAPg-Mike Buck, chief executive of London-listed Petro Matad, said: +IBwAPA-/span+AD4APA-span class+AD0AIg-gc+ACIAPg-We are now well capitalised to execute a six well exploration drilling programme during an active and exciting 12 month period.+ADw-/span+AD4APA-/p+AD4
+ADw-p class+AD0AIg-a+ACIAPgA8-span class+AD0AIg-gc+ACIAPiAc-This is the most significant exploration campaign in Mongolia for a number of years and I look forward to reporting on its progress once it kicks off in July 2018 with the spudding of the Snow Leopard-1 well.+IB0APA-/span+AD4APA-/p+AD4
+ADw-p+AD4-The update sent Petro Matad+IBk-s shares down+AKA-13.62+ACU in early trading.+ADw-/p+AD4

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