DORIEMUS is offloading 60% of its 10% stake in Horse Hill Developments which in turn owns 6.5% of the Horse Hill field that targets the Weald Basin and is home to famed 'Gatwick Gusher' in a move to bring some capital to assist its onshore Canning Basin plans in Western Australia.
Company farming down partial stake in UK-focused oil company for WA projects
The A$3.5 million deal is actually an all-scrip arrangement for 130 million shares in its HHDL partner UK Oil & Gas. It works out at 1.5 pence per share at the company's closing price in...
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