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GISMETEO.RU
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Cardinal Resources says instability is forcing it to raise funds
Journal Staff Report

KIEV, July 10 - Britain's Cardinal Resources Plc, which extracts hydrocarbons in Ukraine, said that political instability in the country is forcing it to issue additional stock to replenish its circulating capital, the company announced on Monday.

The necessity to raise additional circulating capital has appeared due to cost overruns for the completion of the building of a gas processing plant at the Bilousivka-Chonukhine field, considerable unforeseen expenses, and pumping of all extracted gas to the storage facilities, the announcement reads.




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