Marion Energy Limited (ASX:MAE)
Melbourne, July 1, 2009 AEST (ABN Newswire) - Marion Energy Limited (ASX:MAE)(PINK:MAEJF) advises that its existing Senior Secured Credit Facility held with its bankers has been increased by US$ 6 million to a total of US$ 42 million. The total facility has been renewed until 30 September, 2009 and is secured by the Company's assets, including its Utah and Oklahoma projects. The increase is fully available.
The terms and conditions of the increased facility are set out below:
Summary of key terms
- Increase in limit from US$ 36 million to US$ 42 million
- Total Facility renewed until 30 September, 2009
- Interest rate 11.375% per annum
- Issue of 10 million unlisted options, strike price A$0.375, expiry date 1 July, 2012
Contact
North American Contact: Mr Jeff Clarke
Managing Director & CEO
Ph: +1 214 244 7690
Email: jclarke@marionenergy.com
Australian Contact: Mr Peter Collery
Executive Director and Company Secretary
Ph: + 61 3 8862 6466
Email: peter@marionenergy.com.au
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