13 December 2018: Siccar Point Energy has signed an agreement with its existing syndicate of banks to increase and extend its existing Reserves Based Lending Facility (“RBL”). Key features are:
The banks in the RBL remain: DNB (Co-Technical), ING (Co-Technical), Natixis (Agent), ABN Amro, Barclays, BNP, CACIB, Citi, Commonwealth Bank of Australia, Nedbank and NIBC. Siccar Point Energy was advised by Rothschild & Co and Ashurst.
Siccar Point Energy CEO Jonathan Roger said: “The ongoing support of such a strong bank group positions Siccar Point extremely well financially to deliver our forward plans. Next year is shaping up to be another exciting chapter for the company with first production from the Mariner field, our two high impact Blackrock and Lyon exploration wells, and of course progressing the Cambo development towards project sanction following the highly successful well test earlier this year.”
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