7th Oct 2014 07:44
LONDON (Alliance News) - Jupiter Energy Ltd Tuesday said it has secured a new funding deal via an unsecured loan agreement with Waterford Petroleum Ltd.
The company has secured a USD5 million loan via a promissory note from Waterford. The note is repayable on June 30, 2015 or when the company raises additional funding of a minimum of USD20 million.
Jupiter said the funds will be used to finance field operations, including the drilling of Well 19 on the Akkar East field in Kazakhstan.
Jupiter shares down 2.9% at 21.36 pence early Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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