The initial borrowing base is US $35 million, and is backed by cash flow from proved reserves from existing assets (including the recent acquisitions of Atamisqui and Tupungato) and has a tenor of 3 years. The interest rate for the facility is LIBOR plus 400 bps. The facility will be partly used in accordance with Trefoil Limited`s development program and to finance further growth.
Trefoil is focused on the acquisition, exploitation and development of oil and gas properties in Argentina through its 100% owned Argentine subsidiary.
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