Gulf Oil and Gas accountACCOUNT

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

Source: 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 >>

Tanzania >>  6/21/2018 - Solo Oil plc, the natural resources investment company focused on acquiring and developing a diverse global non-operated portfolio of strategic oil an...
Austria >>  6/20/2018 - The Organization of the Petroleum Exporting Countries (OPEC) meets on 22 June 2018 to decide output policy amid calls from major consumers such as the...

Iraq >>  6/20/2018 - Genel Energy plc notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke partners have received $62.19 million from the Kurd...
China >>  6/6/2018 - Sino Gas & Energy Holdings Limited’s (Sino Gas) Joint Venture company, Sino Gas & Energy Limited (“SGE”), in conjunction with its Linxing Production ...

United Arab Emirates >>  6/5/2018 - Abu Dhabi National Oil Company is considering selling another 10 percent stake in its fuel distribution business, which listed in an initial public of...
Nigeria >>  6/1/2018 - Baker Hughes, a GE company, has unveiled plans to partner with local firm, TREXM Oil and Gas Services to bring about its latest innovating metering so...

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.