Brief: Madalena announces a strategic transaction at Coiron Amargo Sur Este with Pan American Energy

Centaurus Energy

07/12/2016 17:38

Dec 7 (Reuters) - Madalena Energy  MVN.V  
    * Madalena announces a strategic transaction at Coiron 
Amargo Sur Este with Pan American Energy and a Debt Financing 
Agreement 
    * Madalena Energy Inc - will receive cash payments of an 
aggregate of $10 million by closing of deal 
    * Madalena Energy -As per transaction, a 2017 work program 
will be undertaken by Pan American Energy, with a net benefit to 
Madalena of $5.6 million 
    * Madalena Energy Inc - Pan American Energy will provide a 
limited recourse loan to Madalena of up to $40 million 
    * Madalena Energy Inc says limited recourse loan will bear 
interest at 7% per annum and is repayable in 5 years 
 
Source text for Eikon:  ID:nPn8gK8YJa  
Further company coverage:  MVN.V  
 
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