Field Fisher Waterhouse LLP has acted for its long-standing client, President Petroleum Company PLC on a £6.2 million fundraising.
President Petroleum is listed on AIM as an independent oil and gas exploration and production company, with assets located in Argentina, South Australia and the United States.
The funds raised will be used to advance the company's work programme in Argentina and, in particular, to drill five wells at its recently acquired oil and gas concession located at Puesto Guardian, Salta Province, Argentina. President Petroleum also hopes to maintain its position of being able to acquire further oil and assets, should suitable opportunities become available to them.
RBC Capital Markets, advised by Norton Rose, acted as the company's nominated adviser and broker on the transaction.
For further information, please contact:
Louise Eckersley, PR Manager, Field Fisher Waterhouse LLP on 020 7861 4120
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