Brief: IPB Petroleum Says Unit Signs Farmin And Funding Agreement With Quay Resource Investments

Forte Energy

30/11/2020 24:49

Nov 30 (Reuters) - IPB Petroleum Ltd  IPB.AX :
    * UNIT SIGNED FARMIN AND FUNDING AGREEMENT WITH QUAY
RESOURCE
INVESTMENTS
    * QUAY WILL EARN A 50% INTEREST IN PERMIT WA-424-P
    * QUAY WILL PROVID DEBT FUNDING IN TWO TRANCHES TO WA-424-P
UNINCORPORATED JV, WITH TRANCHE A ADVANCE OF US$31 MILLION
    * OPTIONAL TRANCHE B ADVANCE OF US$203 MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nASX59p37w
Further company coverage:  IPB.AX 

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