December 31, 2018 / 8:37 AM / 2 years ago

BUZZ-Cabot Energy hits life low after flagging funding needs

** Cabot Energy’s shares hit life low after the oil and gas company warns it needs to raise money in January to operate as a going concern

** CABC down 37.7 pct at 0.79p in thin trade as of 0810 GMT

** AIM-listed Cabot in talks with major shareholders to raise money; expects any financing to be at a “deep discount” to current market price

** During the past two months, co’s Canadian crude oil revenue adversely impacted

** Cabot, which has a market cap of 10 mln stg, has lost over three quarters in value so far this year

Reporting by Pushkala Aripaka in Bengaluru

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