Lime Norway gains funds for 2015 drilling campaign

Hibiscus Petroleum’s jointly-controlled entity Lime Norway has secured an increase in the financing facility from NOK 300 million ($38.21 million) to NOK 700 million ($89.15 million).

Lime Norway is a wholly-owned subsidiary of Lime Petroleum PLc (Lime). Lime is a jointly-controlled entity in which Hibiscus Petroleum owns a 35% stake.

The facility was obtained from Skandinaviska Ensklida Banken AB (SEB) and it will be used to fund Lime Norway’s drilling programme in 2015.

According to Hibiscus Petroleum, the SEB facility was first secured in December 2013.

The 2015 drilling plans of Lime Norway:

Lime Norway gains funds for 2015 drilling campaign_Lime had to-date injected total funds into Lime Norway of approximately $35 million (NOK 282 million). Lime Norway was accorded pre-qualification status as a licensee in Norway in February 2013, which endorses Lime Norway as a qualified oil and gas player in Norway, allowing the company to directly assume participating interests in partner-operated licenses in Norway, in addition to facilitating its receipt of a cash tax refund of 78% of exploration costs annually.

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

OilComm 2019

OilComm is a place where major players in energy, maritime, and transportation communities come together…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply