Gulf Oil and Gas accountACCOUNT

i3 Energy Secures $25 million Credit Facility for 2018 Liberator Field Development Programme

Source: www.gulfoilandgas.com 11/20/2017, Location: Europe

Share |
i3 Energy has received an indicative proposal and confirmed support from two UK-based lenders for a $25 million senior secured credit facility.

As previously announced on 3 November 2017, the Company has been progressing multiple funding options to finance its 2018 development programme. As part of this undertaking, i3 has been engaged in a formal process seeking to secure a $25 million credit facility to be used for the Phase I development of its 100% owned and operated Liberator development. The Company has received non-binding terms for a credit facility from UK-based lenders for the full $25 million facility, subject to final due diligence and the completion and approval of acceptable loan documentation. The Company expects this to be completed during the course of December 2017 and further details on the transaction will be announced then.

As i3 moves to finalize loan documentation with its lenders before year end, the Company will continue advancing other initiatives to fully fund its Liberator development, including the consideration of equity capital markets, joint venture partnerships, and private sources of funding.

There can be no certainty that the above-mentioned commitments will result in legally binding loan documentation.

Financials and Investment News in United Kingdom >>

Argentina >>  7/12/2018 - FMO has extended a USD 26 million long-term loan to Argentine energy company Genneia to develop two wind farms at Villalonga and Chubut Norte in the p...
Egypt >>  7/12/2018 - Egyptian General Petroleum Corp (EGPC) has hired HSBC to arrange a loan of around $1 billion, five banking sources familiar with the matter said, the ...

India >>  7/9/2018 - Cairn Energy has provided an update on its ongoing arbitration with the Government of India under the UK-India Bilateral Investment Treaty. All of the...
United States >>  7/9/2018 - Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2018 to be approximately USD 158 mi...

Saudi Arabia >>  7/4/2018 - Saudi Aramco announced that it is adjusting its Asia crude oil pricing marker in an effort to increase the overall reliability of its crude oil pricin...
Morocco >>  7/2/2018 - Sound Energy, the Moroccan focused upstream gas company, is pleased to announce a placing of new ordinary shares to raise US$15 million before costs (...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 |

More News

 

Oil & Gas Companies in United Kingdom >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.