PA Resources has reached an agreement with its major creditors to provide the company with funding until the end of 2015 in the form of a USD 7.5 million short-term credit facility. An initial USD 2.5 million tranche has been made available to the company to draw on while the documentation is being finalised. The credit will have priority over the company’s existing debt. The new credit will allow PA Resources to continue funding its operations during the strategic review process initiated by the board of directors. The aim of the process is to explore the company’s different options with regards to maximising the value for all of the company’s various stakeholders. The options being explored are long-term funding for all or part of the business, a corporate transaction or the divestment of individual assets or business units. Mark McAllister, President & CEO of PA Resources comments "We are pleased to have secured funding through 2015 and appreciate the support of all our creditors, particularly the bondholders and the Gunvor Group, during this challenging and transitional time for the company. With this new short-term finance in place, PA Resources can move forward with its strategic review to determine the future of the company and how to best realise value for its stakeholders." Stockholm 22 June, 2015 PA Resources AB (publ) For additional information, please contact: Tomas Hedström, Chief Financial Officer Phone: +46 8 545 211 50 E-mail: ir@paresources.se PA Resources AB (publ) is an international oil and gas group which conducts exploration, development and production of oil and gas assets. The Group operates in Tunisia, Republic of Congo (Brazzaville), United Kingdom, Denmark, Netherlands and Germany. PA Resources has oil production in Tunisia. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 603 million in 2014. The share is listed on the NASDAQ OMX in Stockholm, Sweden. For additional information, please visit www.paresources.se. The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08:30 CET 22 June 2015.
PA Resources secures funding for 2015 PA Resources has
Top 10 Most Recent News Articles
The Real Cost of Cabinet Decisions: Refinish or Replace?
Uncovering the Truth Behind Cabinet Decisions When it comes to sprucing up a kitchen, most folks overlook what's hanging on their walls already: those tired old cabinets. Now, are you looking at chucking them out the window for brand-new ones, or can a fresh coat of paint breathe new life into them? Well, that's where Melvin Jones, a painting virtuoso from Lexington,...
Continue Reading
Vatrer Power: Lithium Batteries Revolutionize Golf Carts
The humdrum world of golf carts just got a jolt of energy with lithium batteries entering the fray. Vatrer Power, the brain behind some nifty LiFePO4 lithium battery conversions, made some noise at this year's Golf Carting Expo & Dealer Summit in Charleston, South Carolina. Held at the North Charleston Convention Center, this trade show was the industry's premier...
Continue Reading
Ractigen's Breakthrough in DMD: RNA Activates Utrophin
Ractigen's New Fight Against Duchenne: A Personal Take When it comes to biotech advancements, I've seen enough breakthroughs to not get swayed easily. But Ractigen Therapeutics presenting their first-in-human data on RNA activation for Duchenne Muscular Dystrophy (DMD) kind of demands your attention. Folks, they're talking about a potential shift in handling this brutal...
Continue Reading
Honeywell's Supply Line Snags Bait Class Action Risk
Stepping into the chaos of the stock market sometimes feels like opening Pandora's box—just when you think you've seen it all, something new tumbles out. This time around, it's Honeywell Aerospace (NasdaqGS: HONA) playing catch with hot coals, and a burning class-action lawsuit smolders in the air. Deadline Looms for Investors in Class Action Heads up, folks! If you've...
Continue Reading
Trading Platforms Poised for Billions by 2031
Forecasts and Fierce Digital Landscapes Just when you thought the online trading realm was getting saturated, the numbers are making it clear: there’s still room for growth—even explosive growth. The online trading platform market is eyeing a hike, jumping from a $11.65 billion valuation in 2025 to a projected $18.18 billion by 2031, according to Mordor Intelligence....
Continue Reading
Kal Plastics Showcases at Design-2-Part Expo
Kal Plastics Steps into the Limelight There's a buzz in the air, and it's all about Kal Plastics getting ready to strut their stuff at the Southern California Design-2-Part Show. Now, most folks probably don't spend their nights dreaming about thermoforming and pressure forming, but these guys sure make a case for it. They’ve got their eyes on impressing the crowd with...
Continue Reading
Govee Stirs Halloween Chills with New Sarah Gellar Ad
Lighting Up Halloween the Hollywood Way When it comes to Halloween, folks go nuts driving up the thrill factor at home, and boy, has Govee nailed it this time around. They've dragged Sarah Michelle Gellar into their spooky mix, transforming homes into eerie masterpieces. And let's face it, who better than the 'Buffy the Vampire Slayer' herself to stir those spine-tingling...
Continue Reading
Aetna's 2027 Medicare Plans: Comprehensive Outlook
Unpacking Aetna's Medicare Strategy for 2027 Look, if there's one thing you should keep tabs on, it's how Aetna isn't just coasting by in the healthcare arena. These folks are pushing forward with new options for 2027 that prove they're serious about making healthcare not just accessible, but affordable across the board. Aetna, backed by CVS Health (NYSE: CVS), is making...
Continue Reading
Venice's Climate Challenge: Rising Seas, Sinking Lands
Sea Rise Isn’t Just a Statistics Problem The ordeal of rising seas isn't just about staring at numbers in some spreadsheet, it's a real-world gut punch that's knocking at Venice's door. This city, known for its stunning architecture and winding canals, now serves as the poster child for what happens when Mother Nature and human errors leave a place on the brink of...
Continue ReadingTop 5 Most Recently Viewed Articles
AST SpaceMobile Teams Up with Cadence to Enhance Connectivity
AST SpaceMobile Teams Up with Cadence for Global Connectivity AST SpaceMobile, Inc. (NASDAQ: ASTS), together with Cadence Design Systems, Inc. (NASDAQ: CDNS), is making significant strides towards establishing the world's first and only space-based global cellular broadband network. This groundbreaking collaboration is poised to transform how connectivity is delivered to...
Continue Reading
JA Solar's Game-Changing 260MW Deal Spurs Renewable Energy Growth
JA Solar's New Partnership Enhances Clean Energy Efforts JA Solar, a leader in the photovoltaic (PV) industry, has solidified its position in the global market through a remarkable 260MW module distribution agreement with Exel Solar, a prominent PV distributor. This strategic collaboration was announced during a significant renewable energy event in Mexico, emphasizing JA...
Continue Reading
Discovery Silver Secures US$250 Million Credit Facility for Growth
Discovery Silver's New Credit Facility Details Discovery Silver Corp. has recently entered into an agreement with a syndicate of financial institutions for a substantial revolving credit facility worth up to US$250 million. This facility not only enhances the Company’s financial muscle but also offers the potential to increase funding by an additional US$100 million,...
Continue Reading
Illumine Financial Partners Teams Up with MassMutual for Client Success
Illumine Financial Partners Joins Forces with MassMutual Illumine Financial Partners has entered into a strategic partnership with MassMutual of South Carolina, a move that significantly enhances their service offerings. This collaboration aims to provide clients with a balanced approach to financial planning, allowing for both protective and growth-oriented strategies....
Continue Reading
eToro Group to Reveal Q2 Financials and Engage Investors Soon
eToro Group Ltd. Sets Stage for Q2 Financial Results In a move that showcases its commitment to transparency and investor engagement, eToro Group Ltd. (NASDAQ: ETOR) has announced the upcoming release of its financial results for the second quarter of 2025. Set to be unveiled before the market opens, this announcement is a key event for stakeholders seeking insights into...
Continue Reading