Renewal of Loan Facility
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.
EON NRG Ltd