Proactive Investors - Run By Investors For Investors

Range Energy Resources gets eighth advance under Gulf LNG America loan

The maturity date of the principal amount, interest and any fees of the loan is September 25, 2018
Range Energy Resources gets eighth advance under Gulf LNG America loan
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%

Range Energy Resources Inc (CNSX:RGO) has received a secured convertible loan for $740,340 from Gulf LNG America LLC - a long-time backer of the company.

It is the eighth 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 25, 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

Drill ship
July 11 2019
The Irish company is waiting for US$10mln from Chinese partner APEC to start exploration and appraisal work
1556564353_pulse---drew-and-garth.jpg
April 30 2019
The company was founded by industry professionals Garth Johnson, who is CEO, and Drew Cadenhead, president and chief operating officer
Gas facility
March 01 2019
Scott Kaintz took over as Curzon's chief executive in November

© Proactive Investors 2019

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