Dublin and London-listed oil exploration company Aminex has issued new shares in a bid to expand its operations in the US.
The company said it had been offered the opportunity to participate in an exploration project in Louisiana.
To fund the expansion, it has issued 17.2 million new shares, worth a total of £1.2 million net of expenses. Aminex said the funds raised should enable it to acquire a minority share of the new exploration project without having to reallocate budgeted funds within the Aminex group.
Aminex chairman Brian Hall described it as an "exciting opportunity" to expand the firm's interests.
