21st Aug 2007 07:01
Roc Oil Company Limited21 August 2007 21 August 2007 ROC OIL COMPANY LIMITED ("ROC") STOCK EXCHANGE RELEASE CORPORATE UPDATE: ROC COMPLETES DEBT REFINANCING Consistent with its previously advised financial strategy, ROC is pleased toannounce that the refinancing of its existing 12 month bridge loan facility hasbeen completed with the execution of a new US$200 million four year loanfacility with the Commonwealth Bank of Australia, Societe Generale and BOSInternational (Australia) Limited. The remaining US$167.5 million of the original bridge loan facility which wasestablished last year to fund the US$275 million acquisition of ROC's interestin the Zhao Dong Project, in the Bohai Bay, offshore China will be repaid infull from the initial drawdown under the new loan facility. Commenting on the refinancing, ROC's Chief Executive Officer, John Doran statedthat: "The completion of the refinancing marks another key milestone for the Companyand underscores confidence in ROC's corporate growth plans, including aggressiveactive exploration and/or development programmes in Australia, Angola and China.The establishment of an overall senior debt facility also provides the necessarycapacity and flexibility to continue to grow our business in line with ROC'sstrategic objectives.'' Damian FisherGeneral ManagerExternal Affairs & Investor Relations For further information please contact: Dr John Doran on Tel: +61-2-8356-2000 Fax: +61-2-9380-2635 Email: [email protected] Or visit ROC's website: www.rocoil.com.au Dr Kevin Hird General Manager - Business Development Tel: +44 20 7495 5707/+61 2 8356 2000 Mob: +44 775136 7149/+61 417 261 727 Email: [email protected] Michael Shaw Oriel Securities Limited (Nominated Adviser) Tel: +44 (0)20 7710 7600 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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