Red Rock Resources (LON:RRR) has brought in a further £75,000 from a share subscription to fund exploration in West Africa.
Having been advised of extra demand from investors, Red Rock said it was issuing around 157.9mln shares at 0.0475 pence a share as a final tranche to the subscription announced last week.
For every two subscription shares, applicants will be issued with one warrant exercisable at 0.065p per share, expiring on July 7, 2017.
Last week the group said it had raised £327,500 gross from a subscription at 0.0475p.
Elephant Oil took £200,000 worth of shares in the funding m which will partly help pay for Red Rock’s stake in Elephant.
In June, Red Rock announced it had agreed an option to invest nearly £700,000 in the privately-owned Elephant, which has a production sharing contract for 4,500 sq km onshore Benin.
Red Rock shares were unchanged at 0.045p.