Leeds-based President Energy said today that it plans to raise £6million ($8million) through a share placing.
E&P firm President Energy has brought one of its troublesome Argentinian wells back on stream following a workover.
South-America focused President Energy plans to raise about $20million (£16.1million) through a share placing.
President Energy was forced to suspend its operations after a catalog of failings proved to be one set-back "too far".
President Energy posted a 39% increase in its Argentinean production for the first half the year.
President Energy has kick-started drilling operations in Argentina and Louisiana.
President Energy continues its Argentinian production programme by completing a workover on four wells in the Puesto Guardian area.
South America focused President Energy has appointed former Repsol and Petrobras engineer Jorge Dario Bongiovanni as a non-executive director of the company.
President Energy successfully completed two workeovers on its assets Argentina.
South America-focused President Energy has said its initial results from its Argentine assets were "encouraging", achieving its best daily production and helped by a continued strong oil price in country.
President Energy has appointed Rob Shepherd to join the board as an independent non-executive director with immediate effect.
President Energy has found what it believes could be more than 300 million barrels of oil in its Boqueron prospect in Paraguay.
President Energy has acquired the remaining interest in the Pirity Concession, affording it exploration freedom.
President Energy said revenues have decreased since last year to $4.5million as it feels the impact of lower global oil prices. The company, which has producing assets in Argentina and Louisiana, said production has risen by 29% in the US state since last year. Total assets for the company were $202.7million, a rise from $162.9million in the first half of last year.
President Energy has extended its options on the Puesto Guardian prospect in Argentina, which was due to expire in 2026 to a new unconventional concession until 2050.
UK-registered exploration firm President Energy has reported "excellent" results from the seismic data from its assets in the Hernandarias block in Paraguay.
President Energy has granted the option to acquire ordinary shares as it looks to select directors and senior management as part of its Global Incentive Plan (GIP). The company said the option will be subject to standard conditions under the GIP, including share price performance targets, three year vesting periods and have an exercise price of 11.5p.
President Energy has appointed North East Bedfordshire MP Alistair Burt as a non-executive director. The 59-year-old politician was, until recently, Minister for the Middle East at the Foreign Office.