Taghmen Energy Raises $2 Million in Share Placement

Taghmen Energy has raised US$2million through a placement of 2,167,082 new ordinary 10c shares. The commitment from Fidelity, an existing shareholder, was made 2 weeks ago and closed on October 25th at 52pence per share.

The sale of shares will be used to support the Company's working capital requirements including the acceleration of the testing work on Las Casas Well 3X, initiate seismic on licenses 6-93 (Las Casas) and A7-2005 (Tortugas / Atzam) in Guatemala and continuing operations at Las Casas.