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22 Sep 2008 07:00
Bramlin Limited
("Bramlin" or the "Company")
$5 million Loan Facility
The Board of Bramlin (AIM: BML) is pleased to announce that it has entered into an agreement for a US$5 million loan facility ("Facility") to be provided by Victoria Oil & Gas Plc (AIM: VOG). The funds provided under the Facility will mainly be used for financing of the Logbaba Natural Gas and Condensate Project in Cameroon, West Africa, with the balance for general working capital purposes.
Interest is charged on the Facility at a rate of 1.5 per cent. per month, and is payable on repayment of the Facility. The Facility must be repaid by 30 June 2009 and is secured by a fixed and floating charge over the Company's assets and a first fixed legal charge over the entire issued share capital of Rodeo Development Limited, a wholly owned subsidiary of the Company.
Enquiries:
Bramlin Limited
Jim Ford/Alan Thomas
Tel: +1 713 523 6336/ +44 (0)20 7960 9629
Strand Partners Limited
Simon Raggett /Angela Peace
Tel: +44 (0) 20 7409 3494
Conduit PR
Jonathan Charles/Ed Portman
Tel: +44 (0) 20 7429 6611
M: +44 (0) 7791 892509
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