Africa-focused oil and gas exploration company Impact Oil & Gas has raised a total of US$55 million through a private placement of new shares to both new and existing investors. The bulk of the placement, a total of US$50 million, was raised from two new investors: private equity firm Helios Investment Partners and a Johannesburg-listed subsidiary of Hoskins Consolidated Investments, a Black Economic Empowerment investment holding company. Impact Oil & Gas identifies prospective blocks via medium to deep water exploration offshore South and West Africa, and has offshore exploration interests in South Africa, Namibia, Gabon and Guinea-Bissau.