Esrey Energy Ltd. (TSXV: EEL.V) settled a debt of US$2,636,363 that was owed by Kaynes Capital S.a.r.l., its wholly owned subsidiary, the company said April 28.
The amount came from nonrevolving credit facilities that Kaynes Capital owed to arm’s length creditors, Esrey Energy added.
The debt was settled to the creditors when Esrey Energy issued 10,943,396 of its common shares at about 26 cents each, the company added, noting that this transaction has closed.
Additionally, the company received TSX Venture Exchange approval regarding the settlement, Esrey Energy said.
Vancouver, British Columbia-based Esrey Energy Ltd. explores and develops oil and natural gas in the U.S., Europe and Papua New Guinea.
Recommended Reading
Second Light Oil Discovery in Mopane-1X Well
2024-01-26 - Galp Energia's Avo-2 target in the Mopane-1X well offshore Namibia delivers second significant column of light oil.
E&P Highlights: Jan. 29, 2024
2024-01-29 - Here’s a roundup of the latest E&P headlines, including activity at the Ichthys Field offshore Australia and new contract awards.
Seadrill Awarded $97.5 Million in Drillship Contracts
2024-01-30 - Seadrill will also resume management services for its West Auriga drillship earlier than anticipated.
Oceaneering Won $200MM in Manufactured Products Contracts in Q4 2023
2024-02-05 - The revenues from Oceaneering International’s manufactured products contracts range in value from less than $10 million to greater than $100 million.
E&P Highlights: Feb. 5, 2024
2024-02-05 - Here’s a roundup of the latest E&P headlines, including an update on Enauta’s Atlanta Phase 1 project.