Cooper Energy still seeking financing for Sole gas project
Monday, Jul 17, 2017
Cooper Energy Limited (ASX:COE”) provides the following update on the status of the Sole gas project debt financing.

The company is pursuing a dual stream process to identify and secure the optimal financing for the Sole gas project and Cooper Energy shareholders. The options under consideration include senior bank project finance and senior secured bonds.

In respect of project finance, Cooper Energy is continuing the engagement with the senior bank market commenced some months ago as part of this process.

The company also remains engaged with international capital markets to assess availability and suitability of finance from the issue of senior secured bonds as announced 29 June 2017.

Cooper Energy Managing Director David Maxwell said “We expect to make a decision on our preferred source of debt funding within August, having regard to optimising our capital structure and value for shareholders. The timelines associated with our financing process remain consistent with our timeline for first gas from the Sole project.”

About Cooper Energy Limited (ASX:COE) is an ASX listed exploration and production company which generates revenue from gas supply to south-east Australia and low cost Cooper Basin oil production. The company is an emerging player in the south-east Australian energy sector holding a portfolio of gas supply contracts and one of the most extensive portfolios of gas-focussed acreage and assets, including well-located reserves and resources, in the Otway and Gippsland basins. The most significant resources, in the Gippsland Basin, are currently being commercialised to provide a new source of gas supply for south-east Australia from 2019.

For more information, please visit: http://www.cooperenergy.com.au

For additional information on this project, please visit our ProjectsOGP database
Find out more about Asian Oil and Gas from NewsBase