Irish oil and gas explorer United Oil & Gas has successfully raised £3m and completed a reverse takeover of London-based Senterra Energy.
It is understood that the fundraising was oversubscribed. The shares will return to market, having been suspended pending the completion of the deal, within weeks.
United Oil & Gas, operated by Tullow Oil and Providence Resources veteran Brian Larkin, declined to comment.
The company has an interest in the Waddock Cross field at Essex.
The field was previously in production. United is mulling opportunities to re-start production on foot of new data.
It also recently agreed a deal to take a stake in an exploration project in Italy.
In May, Mr Larkin said the company was looking to build its portfolio and was evaluating options in a number of regions.
Belfast Telegraph