Expert Petroleum Establishes US$8.0 million Debt Facility
LUXEMBOURG, Oct. 8, 2013 /CNW/ - Expert Petroleum Holdings S.a.r.l. ("Expert Petroleum" or the "Company"), a private upstream oil and gas company focused on redeveloping and rehabilitating mature oil and gas fields, is pleased to announce that it has completed an agreement to establish a debt facility for US$8.0 million with a private European bank. The debt facility was principally established to finance part of Expert Petroleum's capital expenditures.
Black Spruce Merchant Capital Corp. ("Black Spruce"), a private merchant banking firm focused on providing specialized financing and advisory services to the global energy industry, acted as sole financial adviser to Expert Petroleum in securing the debt facility.
About Expert Petroleum
Expert Petroleum is an innovative upstream oil and gas company that redevelops and rehabilitates mature oil and gas fields through direct license ownership or in partnership with companies in need of personnel, expertise, or capital. Expert Petroleum is currently focused on Romania where it was awarded a production enhancement contract with a leading regional NOC in late 2012. Expert is assessing multiple new production enhancement contract opportunities. Expert Petroleum is a Lime Rock Partners portfolio company.
About Black Spruce
Black Spruce is a private merchant banking firm focused on providing specialized financing and advisory services to the global energy industry. Our award-winning principals have a history of achieving success for clients based on high-level industry focus, strong industry relationships and innovative transaction skills. Offering advice in project, corporate and credit syndication; equity-linked financings; mergers and acquisitions; and strategic business development.
SOURCE Black Spruce Merchant Capital Corp.For further information:
Expert Petroleum S.a.r.l.
13-15 Avenue de la Liberté
Black Spruce Merchant Capital Corp.
Sonny Mottahed - Managing Partner