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Ireland: Providence Resources announces extension of Barryroe farm-out agreement

Ireland: Providence Resources announces extension of Barryroe farm-out agreement
01 Mar 2021
Providence Resources, the Irish based resource development company, has announced an extension to the farm-out agreement for the
Barryroe licence.
Additional time required to finalise agreement with participants in financing structure
No change to overall development proposal
Providence announces that it has agreed to extend the current farm-out agreement with
SpotOn Energy by an additional two months, until April 30th, 2021. The overall structure of the farm-out as set out below remains and SpotOn’s funding obligations remain unchanged. However, the conditions to be fulfilled to attract investment from the Norwegian Export Credit Agency (GIEK), have altered from those originally proposed. SpotOn are negotiating a restructuring of the funding components and the extension is designed to provide time to complete the funding. ....

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Lansdowne Oil & Gas (AIM:LOGP) | RNS | Lansdowne Oil & Gas - Barryroe Farm-out Update

Lansdowne Oil & Gas (AIM:LOGP) | RNS | Lansdowne Oil & Gas - Barryroe Farm-out Update
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Investegate |Lansdowne Oil & Gas Announcements | Lansdowne Oil & Gas: Corporate Update

Corporate Update
Lansdowne Oil & Gas plc (AIM: LOGP), the North Celtic Sea focused, oil and gas company, is pleased to provide a corporate financial update.
The Company has entered into agreements with LC Capital Master Fund ( LCCMF ) to extend the payment date of its outstanding loan of £1.155 million currently due for repayment on 31 December 2020 (the Loan Extension ).
The agreements provide that:
·
The Company will repay £175,000 of the outstanding loan amount with immediate effect;
·
The payment date of the remaining c. £980,000 will be extended to 31 December 2021;
·
The Company will award LC Capital Targeted Opportunities Fund LP ( LCCTOF and, together with LCCMF, LC Capital ) 26 million Warrants to subscribe for new shares in the Company at a price of 1.2p/share, the term of the Warrants to expire on 31 December 2021 (the Warrant Issue ); and ....

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