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BRIEF-Tap Oil issues update on capital raising

Published 16/12/2015, 09:40 am
© Reuters.  BRIEF-Tap Oil issues update on capital raising
TAP
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Dec 16 (Reuters) - Tap Oil Ltd TAP.AX :

* Company update & capital raising TAP.AX

* Outstanding debt balance reduced to US$43.5 million

* Additional funding will be used ensure Tap to continue to meet minimum US$10 million bnp facility liquiity treatment

* Existing debt facility with bnp paribas & siam commercial bank to be retained

* During 2016, a further US$21 million is forecast to be repaid, with remaining debt balance to be repaid by q3 2017

* Source text for Eikon ID:nASX7mjFRC

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