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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Otto Energy Limited | ASX:OEL | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.0005 | -4.55% | 0.0105 | 0.01 | 0.011 | 0.011 | 0.0105 | 0.011 | 304,171 | 02:20:57 |
From Feb 2020 to Feb 2025
LONDON--Forum Energy PLC (FEP.LN), a Philippines-focused oil and gas company, Friday said that along with its joint venture partners, it agreed a facility agreement with BNP Paribas to provide a total of 40 million dollars in project financing for the second phase of development at the Galoc oil field, offshore Philippines.
MAIN FACTS:
-Forum unit Forum Energy Philippines Corp will borrow $2.58 million as part of capex with the balance being funded from existing cash resources.
-Refers to announcement by 33% owner Otto Energy Ltd. (OEL.AU)
-3 year tenor term loan facility will expire on Dec. 31 2015
-Repayments start in 1Q14
-Interest costs at a competitive market rate
-Phase II requires $188 million to drill and complete two subsea wells tied into the existing infrastructure with a view to more than doubling production from the current levels.
-The drilling rig is expected to be mobilized in early 2Q13
-First oil scheduled for the 2H 2013.
-Forum shares at 1043 GMT flat at 87 pence valuing the company at GBP31 million.
-Write to Ed Ballard at ed.ballard@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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