GREY:ERINQ - Post Discussion
Post by
radcat on Feb 09, 2017 8:45am
Pre-export Finance Facility Agreement
Just got A $100 million in financing! It looks like we will be drilling the miocene very soon!! While the share price has prety much doubled recently, Erin is still flying under the investment radar. Significant share price appreciation is possible once the company becomes a name that garners investment communities attention.
BRIEF-Erin Energy enters into pre-export finance facility agreement with Mauritius Commercial Bank 2 hours ago - Reuters
BRIEF-Erin Energy enters into pre-export finance facility agreement with Mauritius Commercial Bank Feb 9 (Reuters) - Erin Energy Corp
* On Feb 6, co and unit entered into a pre-export finance facility agreement with the Mauritius Commercial Bank Limited
* Erin Energy Corp- Finance facility provides for a total commitment of $100.0 million- SEC filing
* Erin Energy Corp - In connection with facility, EPNL entered into an exclusive off-take contract with Glencore Energy UK Ltd. dated January 18, 2017
* Erin Energy Corp- EPNL may make drawdowns under finance facility by way of loans and/or letters of credit until June 30, 2017
* Erin Energy - Off-take contract with Glencore Energy UK for EPNL's volumes of oil produced from oil mining leases 120, 121 located offshore Nigeria
* Erin Energy - Co's unit EPNL is required to deposit $10.0 million at closing of finance facility into debt service reserve account with Mauritius Commercial Bank Source: (https://bit.ly/2lnAqIB) Further company coverage:
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