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CA Sperati

  • BY: Andrew Hore |
  • POSTED: 23/09/2014 |

CA Sperati has raised an additional £400,000 at 3p a share and plans to invest in a US oil and gas company.

At 3p a share, down 1.13p following the placing, CA Sperati is valued at £9.78m. Sperati raised £250,000 at 4p a share prior to the move from the Main Market during March.

CA Sperati has decided to sell its buttons and apparel business and concentrate on resources. A new investing policy will be put to shareholders to vote on and an initial investment has already been identified.

Kentucky Oil and Gas owns a 500 acre site in Kentucky, which is estimated to contain 1.45m barrels of oil. There are ten existing wells that could be reopened. CA Sperati plans to invest £150,000 in the company and this will be used to reopen wells on the site. Target production is 300 barrels a day.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2014_60.pdf

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