earlier<\/a> closed the first tranche of its previously announced non-brokered $850,000 on private placement financing.<\/p>\nThe Company intends to use the net proceeds of the Financing for general corporate and working capital purposes.<\/p>\n
The closing of the Financing is expected to occur by no later than July 13, 2017, and remains subject to certain closing conditions, including, but not limited to, the receipt of applicable regulatory approvals and the completion of required regulatory filings with the TSX Venture Exchange .<\/p>\n
Oyster is an upstream oil and focuses on Eastern Africa and holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar. Oyster holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; and holds a working interest in an onshore block in Madagascar covering approximately 2.8 million acres.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oyster Oil and Gas Ltd \u00a0has announced that due to strong demand the Company has increased the size of its previously announced non-brokered private placement of units from aggregate gross … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":5947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[607,891,1470,1949,5848,4406],"class_list":["post-6047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-djibouti","tag-financing","tag-madagascar","tag-oyster-oil-and-gas","tag-placement","tag-working-capital","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/Oyster-Oil-and-Gas.png?fit=481%2C208&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1zx","jetpack-related-posts":[{"id":5946,"url":"https:\/\/www.oilnewskenya.com\/index.php\/oyster-oil-and-gas-closes-first-tranche-of-financing-for-djibouti-madagascar-operations\/","url_meta":{"origin":6047,"position":0},"title":"Oyster Oil and Gas Closes First Tranche of Financing for Djibouti, Madagascar Operations","author":"","date":"May 15, 2017","format":false,"excerpt":"Oyster Oil and Gas Ltd has announced that it has closed the first tranche of its previously announced non-brokered $850,000 on private placement financing. The Company currently expects to close a second and final tranche of the Financing for gross proceeds of approximately $450,000 on or before June 5, 2017\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/Oyster-Oil-and-Gas.png?fit=481%2C208&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3257,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-gets-50-million-financing-advance-appraisal-development-kenya\/","url_meta":{"origin":6047,"position":1},"title":"Africa Oil gets $50 million financing to advance the appraisal and development in Kenya","author":"","date":"August 20, 2015","format":false,"excerpt":"Africa Oil Corp has announced that it has entered into an equity subscription agreement with International Finance Corporation, a member of the World Bank Group, to sell, on a non-brokered private placement basis, 31,169,048 of its common shares at a price of CAD $2.10 for gross proceeds of CAD $65,455,000\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/africa-oil-logo.jpg?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3034,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-closes-us100-million-financing-east-africa-program\/","url_meta":{"origin":6047,"position":2},"title":"Africa Oil Closes US$100 Million Financing To East Africa Program","author":"","date":"June 1, 2015","format":false,"excerpt":"Africa Oil has announced that it has closed the US$100,000,000 non-brokered private placement previously announced pursuant to an Investment Agreement dated May 1, 2015 have been released to Stampede Natural Resources S.\u00e0 r.l. Stampede, an entity owned by a fund advised by Helios Investment Partners LLP now holds approximately 12.37%\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/africa-oil-logo.jpg?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2414,"url":"https:\/\/www.oilnewskenya.com\/index.php\/simba-energy-raises-360000-to-fund-exploration-in-africa\/","url_meta":{"origin":6047,"position":3},"title":"Simba Energy raises $360,000 to fund exploration in Africa","author":"Samuel Kamau Mbote","date":"February 5, 2015","format":false,"excerpt":"Simba Energy has announced it has completed a non-brokered private placement involving the sale of up to 15,000,000 units at a price of Cdn$0.03 per Share. Each unit will consist of one common share and one-half of a non-transferable common share purchase warrant, with each full warrant exercisable for a\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/thumnail_simba_energy.jpg?fit=300%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6619,"url":"https:\/\/www.oilnewskenya.com\/index.php\/world-bank-halts-finance-upstream-oil-gas\/","url_meta":{"origin":6047,"position":4},"title":"World Bank Halts Finance For Upstream Oil and Gas","author":"","date":"December 14, 2017","format":false,"excerpt":"The World Bank Group has announced that it will no longer finance upstream oil and gas, after 2019 as part of its continuation of its own operations and to support countries meet their Paris goals. According to the statement from the group at the one planet summit convened by President\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/12\/World-Bank-Logo.jpg?fit=700%2C599&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/12\/World-Bank-Logo.jpg?fit=700%2C599&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/12\/World-Bank-Logo.jpg?fit=700%2C599&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/12\/World-Bank-Logo.jpg?fit=700%2C599&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":2874,"url":"https:\/\/www.oilnewskenya.com\/index.php\/africa-oil-recieves-us100-million-financing-finance-appraisal-development-work-program-east-africa\/","url_meta":{"origin":6047,"position":5},"title":"Africa Oil Receives US$100 Million To Finance Appraisal And Development Work Program In East Africa.","author":"","date":"May 4, 2015","format":false,"excerpt":"Africa Oil has announced that it has entered into an investment agreement with Stampede Natural Resources S.a.r.l. an entity owned by a fund advised by Africa-focused investment firm Helios Investment Partners LLP to sell, on a non-brokered private placement basis, 52,623,377 of its common shares at a price of CAD\u2026","rel":"","context":"In "Profile"","block_context":{"text":"Profile","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/profile\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/africa-oil-logo.jpg?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=6047"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6047\/revisions"}],"predecessor-version":[{"id":6048,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6047\/revisions\/6048"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/5947"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=6047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=6047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=6047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}