OilVoice - White Nile Raises £18 million to Fund the Development of Operations in Southern Sudan and Ethiopia

White Nile Raises £18 million to Fund the Development of Operations in Southern Sudan and Ethiopia

Friday, June 15, 2007

White Nile Ltd, the AIM traded oil and gas exploration company, has raised £18 million through the issue of 18,000,000 new ordinary shares of 0.1p each at £1.00 per share. The proceeds of the placing, conducted with existing as well as new institutional investors, will be utilised to fund the development of the Company’s operations in Southern Sudan and Ethiopia, as well as to develop its activities within the region as a whole.

Application will be made today for the new shares to trade on AIM and it is expected that dealings in these shares will commence on 21 June 2007. The new ordinary shares will rank pari passu in all respects with the existing shares in issue.