13:25 Fri 04 Sep 2020
Zoltav Resources Inc - Update Re. Loan Agreement
("Zoltav" or the "Company")
Update Re. Loan Agreement
Zoltav (AIM: ZOL), the
As previously announced, management are continuing to hold discussions with a number of prospective providers of project finance for developing East Bortovoy. In the event the Company takes a positive final investment decision on this project in due course, it is currently envisaged that the Loan would be restructured in order to facilitate any required equity contribution to the project or a part thereof.
ARA
Enquiries:
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Tel. +44 (0)20 7390 0234 (via |
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Tel. +44 (0)20 3470 0470 |
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Tel. +44 (0)20 7390 0234 |
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
About Zoltav
Zoltav is an oil and gas exploration and production company focused on
Zoltav holds the Bortovoy Licence in the Saratov region of South Western Russia, a 3,215 sq km area along the northern margin of the Pre-Caspian basin, one of the largest hydrocarbon basins in the CIS.
The Bortovoy Licence contains a number of productive gas fields in the west of the Licence, a processing plant and significant exploration prospectivity. It holds proven plus probable reserves under the
In 2018, Zoltav produced 12.0 bcf (341 mmcm) of gas or 2.0 mmboe (274 mtoe) and 66,558 bbls (7,715 t) of oil and condensate.
The Company is currently evaluating strategies to commercialise the eastern fields of the Bortovoy Licence.
For further information on Zoltav, or to sign up for our news alert service, visit: www.zoltav.com.
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