NEC Secures USD 10 Million Loan
Norse Energy Corp. ASA announce the closing of a USD 10 million loan from clients of Sector Asset Management, which is also the company’s largest shareholder. Maturity is 31.12.2009 and the loan carries an annual interest of 10 percent.
The purpose of the loan is to bridge-finance the continued positive development of the US operations and to improve financial flexibility.
Norse Energy Corp. ASA is a Norwegian based publicly listed company focusing on energy operations offshore Brazil and onshore in the states of New York and Pennsylvania in the Appalachian Basin in the U.S.