Market Impact: Negative. Petroamerica has entered into a private placement agreement to issue up to US$20 mm in senior secured debentures. The proceeds will be used to appraise and develop the Cumplidor Field on the PUT-7 Block (50% WI) and to reactivate development activity in the fields located on the Suroriente Block (15.8% WI). If the entire US$20 mm in senior secured debentures are issued, the financing is 46% dilutive to our current 2016e cash flow estimate to approximately US$3 mm (previo ....
28 Oct 2015
PETROAMERICA OIL CORP. (PTA) ANNOUNCES PRIVATE PLACEMENT OF UP TO US$20 MM SENIOR SECURED DEBENTURES
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PETROAMERICA OIL CORP. (PTA) ANNOUNCES PRIVATE PLACEMENT OF UP TO US$20 MM SENIOR SECURED DEBENTURES
Market Impact: Negative. Petroamerica has entered into a private placement agreement to issue up to US$20 mm in senior secured debentures. The proceeds will be used to appraise and develop the Cumplidor Field on the PUT-7 Block (50% WI) and to reactivate development activity in the fields located on the Suroriente Block (15.8% WI). If the entire US$20 mm in senior secured debentures are issued, the financing is 46% dilutive to our current 2016e cash flow estimate to approximately US$3 mm (previo ....