Europa Oil & Gas Enters GBP225,000 Loan Facility With Director
Wed, 20th Jan 2021 11:46
(Alliance News) - Europa Oil & Gas Holdings PLC on Wednesday announced it has entered into a GBP225,000 unsecured loan facility with Non-Executive Director William Ahlefeldt.
The UK, Ireland and Morocco focused oil and gas company said it has taken out the loan facility to increase its headroom to fund any cost overruns or funding shortfalls that may arise relating to the Wressle oil field development in North Lincolnshire, England. The loan facility has a four-month term and an interest rate of 13% per annum.
Shares in Europa Oil & Gas were up 13% at 1.52 pence in London on Wednesday.