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Bakken Player Samson Oil & Gas, Mutual of Omaha Bank Enter $25 Million Credit Facility

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Business Wire
January 29, 2014

Samson Oil and Gas Ltd. (NYSE MKT: SSN) has finalized a new credit facility with Mutual of Omaha Bank for up to $25 million, with an initial borrowing base of $8 million. The facility has a three-year term with an interest rate of London Interbank Offered Rate (LIBOR) plus 3.75% (approximately 3.908% for January 2013).

Samson has drawn down $4 million from the facility, with the remaining $4 million to be drawn down after the implementation of a hedging program. The hedging program is expected to be in place within ...

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