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Renaissance Oil Corp. RNSFF

Energy
Renaissance Oil Corp is engaged in the acquisition, development, and production of oil and natural gas in Mexico. The group's properties include Mundo Nuevo, Topen, Malva, and Ponton.


GREY:RNSFF - Post by User

Renaissance Oil Corp. > Boots or anyone - can you explain ?
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Post by Super_Cycleon Dec 04, 2019 11:25am
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Post# 30421049

Boots or anyone - can you explain ?

Boots or anyone - can you explain ?Has Anyone spoken to the company about this news release today?

Specifically what is happening regarding royalty payments and trade receivables:

"To meet financial obligations necessary for the development of Amatitlan, Renaissance has delayed paying royalty payments due on the September and October, 2019, production from its operating wells. Further royalty payments will be delayed until such time that the company collects its outstanding trade receivables or raises additional financing. Failure to make the royalty payments will result in interest and penalties and could jeopardize the licence agreements on the company's Chiapas properties. Renaissance continues discussions with financing sources in Europe, North America and Mexico."
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