The arrangement was first agreed in February with an initial five-year term and it will now run until 31 December 2028.
Tower Resources PLC (LON:TRP) has unveiled a financing which will see the extension and restructuring of its US$750,000 bridging loan facility of US$750,000 and gross proceeds of approximately £1,500,000 raised through a placing and subscription to provide it with working capital.
Alba Mineral Resources PLC’s (LON:ALBA) Horse Hill stablemate UK Oil & Gas PLC (LON:UKOG) revealed that drilling is now proceeding confidently after a coring programme has identified the “sweet spot” in the Portland reservoir.
The company, which itself was recently restructured, highlighted in a statement on Monday that a new agreement with joint venture partner Rockies Standard Oil Corporation (RSOC) allows Rose to focus on a potentially highly economic core acreage position of circa 12,920 acres.
The junior coal bed methane company said in a statement that the lenders agreed to capitalise the interest and fees associated with the notes into a new principal amount, of £216,553, and, that the new arrangement will see interest accrue at the same rate as before, 13%, but due for payment monthly.
88 Energy Ltd (LON:88E, ASX:88E) told investors it has executed a rig contract for the planned Charlie-1 appraisal well which has an envisaged February 2020 spud date.
TLOU Energy Limited’s (LON:TLOU) quarterly update highlighted “an excellent start” to flow testing at its Botswana coal bed methane wells.