SSN - Samson Oil & Gas Limited Sponso

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  • Business Wire

    Samson Oil & Gas Refinancing

    Samson Oil and Gas USA, Inc., a wholly owned subsidiary of Samson Oil & Gas Limited (ASX:SSN and OTCQB:SSNYY), has closed a $33.5 million refinancing with AEP I FINCO LLC. The new facility has a 5 year term and an interest rate of LIBOR plus 10.5%. The proceeds of the new debt facility will be used to retire the existing line of credit, repay outstanding creditors and provide working capital to pursue an infill development drilling program. The development drilling program is expected to commence in approximately two weeks with the drilling of the first Gonzales Proved Undeveloped (PUD) location.

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