Anzon Completes Another Banking Facility

Anzon Australia Limited ("Anzon" or "the Company") is pleased to announce the completion of an additional US$20 million Standby financing facility.

On 1 November 2006, Anzon executed a second amendment to its existing Multi-Option Facility Agreement with BOS International (a wholly owned subsidiary of HBOS Australia) and Westpac Banking Corporation, who acted as Joint Lead Arrangers for the transaction, increasing the available funds (subject to certain conditions) by an additional US$20 million. The total project finance arrangements now in place aggregate to an amount of up to US$95 million.

The continued support of Anzon's bankers demonstrates their confidence in Anzon's management team and the Basker Manta oil development. As advised previously, the construction (and installation) work in Bass Strait will be completed this weekend and both the Crystal Ocean (FPSO) and the Basker Spirit (shuttle tanker) have departed Singapore for the project location. First oil is anticipated to occur in December 2006.

The additional financing also provides the opportunity for the early implementation of the gas project. The proposed gas project will be the Company's next major development as operator, and follows on from the successful Basker-Manta oil project.

Beach Petroleum Limited is Anzon's Joint Venture partner with a 50% interest in the BMG Joint Venture.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
International Accountant
Expertise: Accounting
Location: Downers Grove, IL
 
United States Duncan: Associate Billing Specialist
Expertise: Accounting
Location: Duncan, OK
 
Accounting Analyst I/II Job
Expertise: Accounting|Financial Analyst
Location: Denver, CO
 
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours