New World Oil and Gas Plans to Raise $5 Million, List on AIM
By Nidaa Bakhsh -
2011-03-21T00:00:00Z
New World Oil and Gas Plc, a new investment company, plans to raise 3 million pounds ($5 million) and list on the London-based AIM exchange.
The company will focus on buying oil and gas projects in Central America, according to a statement received today. It will focus on the Peten Basin located beneath the Yucatan Peninsula, according to the statement.
“The demand for oil and gas continues to rise and the long-term fundamentals underpin the development of assets in this sector,” William Kelleher, chief executive officer of New World, said in the statement.
To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
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