Sign up Australia
Proactive Investors - Run By Investors For Investors

Range Energy Resources gets seventh advance under Gulf LNG America loan

It is the seventh advance under the credit facility entered into with Gulf on February 14 this year.
Range Energy Resources gets seventh advance under Gulf LNG America loan
Range Energy is an oil firm

Range Energy Resources Inc (CNSX:RGO) has received a secured convertible loan for $605,386 from Gulf LNG America LLC - a long-time backer of the company.

It is the seventh advance under the credit facility entered into with Gulf on February 14 this year.

The maturity date of the principal amount, interest and any fees of the loan is September 11, 2018 and the rate of interest is 10%  a year, Range told investors.

In February this year, Range agreed loan deals with Gulf LNG America LLC, which owns 71% of the capital of the firm and Harrington Global Opportunities Fund, which owns 12%.

Under each loan agreement, the relevant lender may advance one or more loans to the company from time to time, upon request by the company.

Range will use the money for working capital as it develops the Khalakan block in the Kurdistan region, as well as corporate purposes, and any capital expenditures for the purchase  of property or assets permitted under the loan agreements.

View full RGO profile View Profile

Range Energy Resources Inc Timeline

Related Articles

Point Loma Resources cashed up and looking to double production in Alberta
August 29 2017
Point Loma has over 160,000 net acres concentrated in west central Alberta
onshore drilling operation
October 04 2017
Chief executive Randeep Grewal highlighted that the arrangement eliminates ambiguity and provides a transparent and clear road-map through exploration to commerciality
1505923572_Alberta.jpg
September 21 2017
Bigoray's development could mark an absolute game- changer for the firm in terms of scale.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use