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Melrose Resources, the Edinburgh-based oil and gas company, is to be acquired by Petroceltic of Ireland for £170m.
Melrose Resources is to raise £11m in a share placing to fund the expansion of its oil exploration and production operations in Egypt, Bulgaria and the US.
Melrose Resources is to raise £75m in a share placing to fund the expansion of its oil and gas exploration and production business.
Melrose Resources is considering plans for an equity offering to raise funds for the expansion of its oil and gas exploration activities in Egypt and Bulgaria.