Sign up USA
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 28 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
picture of gas pipes
September 12 2017
Dividends and paying them out underpin Diversfied Gas's strategy

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 understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

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.

Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

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