PetroNeft Resources finance update

PetroNeft Resources

PetroNeft Resources plc (LON:PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 has provided the following financing update.

Petrogrand Loan facility 

On 15th December 2021 PetroNeft announced that it had met all contractual obligations, including the payment of $574,430 (representing 20% of the principal sum outstanding), and the payment of the  associated interest for fiscal 2021.  The reduced principal amount of $2.3 million, has enabled the Company to extend the facility by a further 12 months to 15th December 2022. 

At the same time PetroNeft Resources has been looking at all options to see if it would be in shareholders’ best interest to re finance the loan. After detailed negotiations with various parties we have decided that it is in the best interests of shareholders to continue with the facility as is. We will continue to explore financing alternatives, with a view to securing terms and conditions, which are in PetroNeft’s Shareholders best interests.

You might also enjoy reading  PetroChina Company Limited - Consensus Indicates Potential 40.6% Upside
Find more news, interviews, share price & company profile here for:
PetroNeft Resources plc

Good news travels fast (but only if you make that happen):

Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Facebook
Share on email
Email
Share on reddit
Reddit
Find more news, interviews, share price & company profile here for:
PetroNeft Resources plc

AIM All Share Index