Touchstone launches US$10m-15m raise to fund new wells
Touchstone Exploration (AIM:TXP) launched an equity fundraise targeting between US$10m and US$15m, with proceeds earmarked for new well drilling, low-cost workovers across its Trinidad portfolio, and the reduction of aged payables. The shares were unchanged at 7.0p as the raise was announced.
Empyrean signs binding jack-up contract for Mako development
Empyrean Energy (AIM:EME) confirmed a binding contract for the Admarine 502 jack-up rig to drill six development wells at the Mako Gas Field, with operations scheduled to commence in Q2 2027. The contract represents a material step forward in converting Mako's gas resource into production, and the news lifted the shares 5.4% to 0.0586p.
Touchstone opens retail window on equity raise via Winterflood platform
Alongside its institutional bookbuild, Touchstone Exploration (AIM:TXP) opened a retail offer to UK investors through Winterflood's WRAP platform, with new shares priced at 7p, in line with the prevailing market price. The retail tranche forms part of the same US$10m to US$15m overall raise, giving private investors direct access to the offering on the same terms as institutional participants.
ADM Energy lifts Vega Upstream stake to 25% with US$200,000 top-up
ADM Energy (AIM:ADM) increased its economic and asset interest in the Vega Upstream joint venture to 25% following a US$200,000 top-up payment, and issued replacement warrants as part of the transaction. The company also disclosed that the closing of its Midcon acquisition has been pushed back to 26 June, extending the timeline on that separate deal.
