May 18, 2017 |
PMI Resources could raise capital by more than $200m to help pay for investments in oil and gas exploration blocks in
Argentina, LatinFinance understands.
Bank of America Merrill Lynch along with Canada’s GMP First
Securities and TD Bank are expected to finish a capital increase in
June, two equity capital markets sources said.
PMI will likely use the proceeds to acquire Patagonia Oil
Corp, which has a 50% stake in the Llancanelo and Llancanelo R oil exploration
blocks in Argentina’s
Canadian oil and gas explorer could raise more than $200m to help pay for the acquisition of Patagonia Oil Corp