LGO Energy completes refinancing

LGO Energy confirmed on Friday that, as announced on 7 December, its refinancing had now completed.

The AIM-traded company said first close on the transaction agreed with the Lind Partners occurred on Friday.

“LGO received the proceeds from the first drawdown of $1.825m on the Lind Funding Agreement and paid BNP Paribas the closing sum of $1.75m in full settlement of all amounts due to BNPP, who have now released rights to the senior security they previously held,” its board said in a statement.

“An update on plans for drilling at the Goudron Field in Trinidad will be provided in due course.”