Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

LGO Energy agrees debt payment deal with BNP for March

BNP Paribas has agreed to a deal that eases pressure in the short-term, but, a new longer term funding deal will still be needed.
LGO Energy agrees debt payment deal with BNP for March
Debt payment for March is reduced to $100,000

LGO Energy (LON:LGO) has reached agreement with its lender, BNP Parisbas, which sees its debt repayment reduced.

The scheduled payment for March is reduced to $100,000, and after that the remaining balance will be recovered over the following 18 months.

Any further reduction of the debt payments, for April, would require separate agreement in due course. The final debt payment is due no later than September 2017.

Neil Ritson, chief executive, said: "Whilst the company welcomes the contribution of BNP Paribas to managing short-term cash flow, which remains tight in this period of low commodity prices and reduced field activity, it should be noted that the repayment schedule will require substantial new funding to be raised by the Company which remains uncertain and cannot be guaranteed."

View full CERP profile View Profile

Columbus Energy Resources PLC Timeline

Related Articles

1519654733_uranium.jpg
February 26 2018
Anfield Energy has a suite of attractive assets containing uranium and vanadium
Oil drums
March 08 2018
Hartleys has a 12-month share price target of $0.25 on the stock implying upside of nearly 100%.
oil and gas operations
February 16 2018
“I believe that the ENEO issue will be solved as VOG management has prioritised this matter and is focused on achieving a result in the shortest possible timeframe,” chief executive Ahmet Dik

No investment advice

The Company is a publisher. You understand and agree that no content 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 further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. 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.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

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