Soma Lands $50M For Oil Exploration In Somalia

Law360, New York (January 13, 2014, 1:52 PM EST) -- British oil exploration company Soma Oil & Gas Holdings Ltd. has secured $50 million in equity funding from private investment firm Winter Sky to explore Somalia for oil, Soma said Monday.

The funding will give Soma the boost it needs to begin exploring throughout Somalia, its primary target for oil extraction, the company said. It also brings Soma closer to securing the necessary permits and agreements from the Somalian government.

"Securing this funding agreement is a significant step forward for Soma Oil & Gas as it...
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