third party funder?7 Dec 2018 15:59
There is only nominal consideration payable on the Acquisition, which is conditional upon, among other things, Sirius sourcing for Sirius JV US$40 million of external debt funding, to be provided by a third-party funder, to be deployed towards the execution of a minimum work programme commitment ("MWPC") on the Ejulebe field, a producing field located in the North East corner of OML109. Sirius is in advanced discussions with a third-party funder for the provision of the required US$40 million debt funding, which is intended to be secured directly against the cashflows generated as a result of the Ejulebe MWPC
wonder who it is?