Ascent Resources' shares surge as it raises £500,000
Updated : 14:22
Ascent Resources' shares are up more than 15% after it raised £500,000, net to the company, in a placing of 83,33m new shares at 0.6p each to meet its working-capital requirements into 2017.
The oil and gas exploration and production company said the funds would enable it to continue to order long-lead items required for the alternative route to market.
At 14:12 BST, Ascent's shares were up a lofty 15.38% to 0.75p.