Asian Mineral Resources Arranges Preliminary Funding of US$26 Million for Restart of Production at its Oza Oil Field

Source - MicroSmallCap

Funding will allow first production in 3-4 months from drawdown Represents significant milestone for Company as it transitions into a producer Funding arrangements from established Nigerian oil producer and large crude trader demonstrate vote of confidence for project and management

TORONTO, Aug. 31, 2020 (GLOBE NEWSWIRE) — Asian Mineral Resources Limited (the “Company”) (ASN-TSX Venture) is pleased to announce that, as more fully described below, its wholly-owned Nigerian-based subsidiary, Decklar Petroleum Limited (“Decklar”) has arranged preliminary funding of US$26 million to develop its Oza Oil Field in Nigeria. When fully disbursed, these funds are expected to be sufficient to re-establish ...

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