Fortune Petroleum Raises $6.5 Million
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Fortune Petroleum Corp., an Agoura Hills energy concern, said it completed the sale of 900,000 units, netting the company $6.5 million.
Each unit sold for $8.25, and includes two shares of Fortune common stock and two five-year warrants to purchase additional stock.
The company said the money will go to the purchase of leasehold interests in 10 producing natural gas wells in Webb County, Tex., and additional undeveloped property.
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