Austral Amends Loan Facility

Austral Amends Loan Facility

Austral Pacific Energy Ltd. announces that it has agreed with its loan facility provider, Investec Bank (Australia) Ltd, to further restructure the facility.

Under the agreement with Investec, the maturity date for the current facility has now been pushed back to the end of January, and the Bank has proposed to work with Austral through this period to restructure the facility.

Austral will immediately pay part of the loan down, by payments of cash on hand and from closing out the oil puts taken out in May 2008.

Share this post