Abilene Oil and Gas secures funds to complete Kansas oil well
Date
1/15/2015 9:40:51 PM
(MENAFN- ProactiveInvestors)
Abilene Oil and gas () has secured $160000 in short term loans to fund completion costs related to the recent successful Woelk #1-21 well at its Central Kansas Uplift Project.
The loan was provided by a related entity of director Craig Mathieson and substantial shareholder Holdrey Pty Ltd. It will not bear any interest and is repayable on 30 April 2015.
Payment of completion costs relating to the well will allow the company to commence earning revenue from the sale of oil and gas extracted from this well in the coming months.
Earlier this week the company spudded the last of four wells in the current program at the project.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.