Placing and Issue of Equity

Magnolia Petroleum Plc, the AIM quoted US onshore focused oil and gas exploration and production company, is pleased to announce that it has raised £300,000 via the issue of 8,571,428 new ordinary shares (the ‘Placing Shares’) in the Company, at a price of 3.5 pence per share (the ‘Placing’). The Placing was completed through the Company’s broker Cornhill Capital Limited.

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