- Doriemus (DOR) has ended the week in a trading halt as it plans for an upcoming capital raise
- So far, it is unknown how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Tuesday, June 8, or when more information about the raise is released to the market
- On the market, Doriemus last traded at 7.5 cents per share
Doriemus (DOR) has ended the week in a trading halt ahead of an upcoming capital raise.
Currently, it is unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Tuesday, June 8, or when more information about the raise is released to the market.
Doriemus is a U.K.-based oil and gas company, focussing on the Weald Basin in Southern England.
Additionally, the company owns 4 per cent of Horse Hill Development, which in turn owns 65 per cent of two petroleum exploration and development licences in the northern Weald Basin between Gatwick Airport and London.
Over the third quarter, Doriemus used $71,000 in operating activities. At the end of the period, it had just over $1.1 million in cash and equivalents at the end of the period.
The company also completed the disposal of its 10 per cent interest in the PL235 licence in the Brockham Oil Field.
On the market, Doriemus last traded at 7.5 cents per share at 10:25 am AEST.