Arab FinanceThe Canadian company Taj Oil intends to raise 10 million Canadian dollars (7.2 million US dollars) by offering additional shares in the company for public subscription. The company intends to use the proceeds from the offering to “enhance evaluation and development activities” in the Western Desert in Egypt, according to what the company said. In her statement.
The company will use these funds to expand its business in the Badr field, in addition to a new concession of 512,000 acres in the Western Desert that the company is currently working to acquire.
The company had obtained a letter of no objection from the Egyptian General Petroleum Corporation regarding its binding offer submitted in the second quarter of 2024, to acquire a new concession with an area of 2,000 square kilometers in the Western Desert, according to statement Previous to the company.
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