Mediterra Energy secures private financing

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By Ted Liu

Mediterra Energy Corporation, a Calgary based international upstream Oil and Gas Company focused on exploration and development opportunities in the Middle East and N. Africa (MENA), has closed a new financing.

Mediterra Energy raised [mepr-active rule=”374″ ifallowed=”hide”]Subscriber ONLY content: read our research and get insight on this and other deals. We offer monthly or yearly recurring or one-time trial subscriptions. Subscribe today and see what you have been missing! [/mepr-active][mepr-active rule=”374″]$7.85 million from existing and new investors from Alberta, Ontario, Quebec, BC, UK, USA and Turkey. Burnet, Duckworth and Palmer LLP acts as legal counsel to Mediterra Energy.[/mepr-active]

Mediterra Energy current portfolio of assets consists of 1) Sudr, Matarma, Asl development leases – 100% operated working interest; 2) Al Baraka and West Baraka Development Leases – a 100% operated working interest in light oil producing Komombo Concession in Egypt; 3) Block 7 and 8 – 40% Working Interest in 5.6 million acres of exploration land.

photo credit: Mediterra Energy Corporation