Dutchess Opportunity Fund Provides £5 Million to Leni Gas & Oil, Ltd
Dutchess Opportunity Fund Provides £5 Million to Leni Gas & Oil, Ltd
(firmenpresse) - Boston, MA - Dutchess Opportunity Fund is pleased to announce a £5 Million Equity Line Facility (“ELF”) to Leni Gas & Oil, PLC. The access to capital will allow Leni to draw on the line if capital is needed for their recent acquisition in Trinidad and ongoing projects in Spain. The deal was facilitated by Dutchess’ joint venture partner in the United Kingdom, First Columbus LLP.
The flexibility to raise capital at the discretion of the company, and with no obligation to do so, is what makes the ELF such an attractive source of financing for public companies. It allows the management to decide the timing and amounts of each draw.
Neil Ritson, LGO's Chief Executive, commented “We picked Dutchess because of their reputation among the financial community and their track record with ELF’s that spans longer than a decade.”
Douglas Leighton, managing partner of Dutchess stated, “We are pleased to partner with another energy company as we’ve had great success providing them with the capital they need for ongoing production and exploration. The ELF is a perfect fit for any company that needs access to capital over a period of time, with flexible and easy to understand terms.”
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Datum: 07.10.2011 - 11:42 Uhr
Sprache: Deutsch
News-ID 1043738
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