Renewal of Loan Facility
Renewal of Loan Facility
Perth, June 28, 2019 AEST (ABN Newswire) - Eon NRG Limited (ASX:E2E) (OTCMKTS:ICRMF) ("the Company" or "Eon") is pleased to advise that it has opted to extend the maturity date of its existing loan facility for three months under the same terms and conditions. The current loan facility from ANB Bank was due for annual renewal on July 1, 2019. The 90-day extension option will provide Eon with time to further evaluate its Powder River Basin prospects and the Govt Kaehne 9-29 well.

The Company has had loan arrangements with ANB Bank since 2014. During that time, US$3.93 million has been repaid to the Bank and all loan covenants have been met. The current loan balance is US$6.159 million.

The Govt Kaehne 9-29 well cost analysis has been completed and Eon has received quotes for all major services involved in drilling the well. Eon has identified Capstar as the drilling rig contractor of choice and is finalizing drilling dates and rig availability for Q3 2019.


About EON NRG Ltd

EON NRG Ltd (ASX:E2E) is an USA onshore focused energy exploration and production company. The Company's growth path is through drilling of high impact oil exploration wells, supported by its 100% owned and operated long life oil and gas production assets and associated cashflow. The company also has a battery minerals division with prospective leases in Nevada which are at the early stages of low-cost exploration.

   


Contact

Australia -
Simon Adams
CFO/Company Secretary
Email: sadams@i-og.net
Phone: +61-8-6144-0590

USA -
John Whisler
Managing Director
Email: jwhisler@i-og.net
Phone: +1-720-763-3183

Website: www.eonnrg.com
Twitter: @EonNRG



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