UK: Angus Energy announces Saltfleetby Loan Facility update
22 Feb 2021
AIM-listed
Angus Energy has announced, further to the RNS of 30 November 2020 that the Company has received a best efforts expression of commitment in the form of a conditional Mandate Letter, for between £8 and £9 million toward the proposed
£12 million Saltfleetby Equipment Finance and Field Development Loan Facility from a major multi-national institution. The Mandate commitment is conditional also on the participation of other institutions and investors for the balance of £3 to £4 million.
The Company has also been informed of indications and soft commitments for the same Loan Facility of approx. £11 million from an identified group of investors led by
Saltfleetby Loan Facility Update
Angus Energy plc (AIM: ANGS) is pleased to announce, further to the RNS of 19 January 2021 that the Company has received a best efforts expression of commitment in the form of a conditional Mandate Letter, for between £8 and £9 million toward the proposed £12 million Saltfleetby Equipment Finance and Field Development Loan Facility from a major multi-national institution (the Mandate Letter ). The Mandate commitment is conditional also on the participation of other institutions and investors for the balance of £3 to £4 million.
The Company has also been informed of indications and soft commitments for the same Loan Facility of approximately £11 million from an identified group of investors led by Aleph Energy ( Aleph ). In each instance the terms of the Loan Facility are substantially unchanged from those disclosed in the RNS of 19 January 2021.
Australia: Key Petroleum sells 50 percent interest in L7 and 86.94 percent interest in EP 437, onshore Perth Basin, to Triangle Energy
28 Jan 2021 Triangle Energy to sell to Triangle Key Petroleum s 50% participating interest in Production Licence L7(R1)
and Key Petroleum and Key Midwest’s combined 86.94% interest in
Exploration Permit EP 437. A wholly owned subsidiary of Triangle will hold the relevant interests acquired under the Agreement.
Summary of the key terms of the Agreement and Royalty Deed
Completion of the Agreement is conditional on usual regulatory approvals, execution of a deed of covenant in respect of the EP 437 JOA, Triangle receiving binding commitments for a capital raising of at least $1,000,000 and, if required, Key obtaining the approval of its shareholders under Chapter 11 of the ASX Listing Rules for the Key subsidiaries to sell its interests in these assets. Under the terms of the Agreement: