Further to the announcements made on 5 April 2013, 19 April 2013 and 26 April 2013, International Petroleum Limited (“International Petroleum” or the “Company”), advises its shareholders that it has, so far, received US$5million of the total US$15million loan funds from Range Resources Limited pursuant to the loan facility (“Loan”).
Range Resources Limited has indicated that it plans to pay to the Company a second instalment of US$5 million in the coming days and the remaining US$5 million of the Loan over the coming weeks. Once received, the funds will be applied towards payment of the Company’s Russian creditors and general working capital. The Company requests that trading in its shares remains suspended until the Company receives the total funds pursuant to the Loan.
The Company will keep shareholders updated in respect to this matter.
