- Andalas Energy and Power said it had raised £1m via a share placing to provide working capital and funds to pursue upstream opportunities in Indonesia and the UK.

New shares in the company were issued at 0.02p each.

'This placing, together with our lower cost operating model and over six months of looking for the right deals for shareholders, puts us in a strong position going in to the summer to deliver on our ambition of growing the Andalas business,' chief executive Simon Gorring said.

At 2:25pm: [LON:ADL] Andalas Energy Power PLC share price was -0p at 0.02p

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