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Samson Oil & Gas Updates Credit Agreement

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June 16, 2014

Perth, Australia-based Samson Oil & Gas Ltd. (ASX: SSN.AX; NYSE MKT: SSN) updated its credit agreement with Mutual of Omaha Bank, the company said June 16. The borrowing base of the credit facility was increased to $15.5 million, the company said.

The $25 million, three-year term facility opened in January with an $8 million borrowing base, Samson said, noting that $6 million has been drawn. There is now $9.5 million available for immediate drawdown, the company added, noting that no funds should be drawn until the third quarter of 2014. ...

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