Nu-Oil and Gas plc (AIM:NUOG) intends to make acquisitions. The company has completed an oversubscribed placing of new ordinary shares to raise £1.5 million in total before expenses. In addition to satisfying the company's general working capital requirements, the net proceeds of the placement will be utilized in the acquisition process for marginal field projects including economic assessment, subsurface due diligence, engineering and design studies, legal costs and establishing operating structures in which projects can reside.