StockMarketWire.com - UK Oil & Gas Investments (UKOG) raised gross proceeds of GBP4m through the placing of 266,666,667 ordinary shares in the company at 1.5p per share. The proceeds will be used to further the company's existing Weald Basin portfolio activities and near-term strategic growth. It may also be used to potentially invest in new Weald Basin and southern UK onshore oil and gas activities. At 10:58am: (LON:UKOG) Uk Oil Gas Investments Plc a Ord 0.01p share price was -0.2p at 1.7p Story provided by StockMarketWire.com