AGR Energy provides US$7.5 million convertible loan facility to Tethys Petroleum

1 minute read
15 May 2015

On 15 May 2015, Tethys Petroleum Limited (TSX:TPL) (LSE:TPL) announced that it had signed and closed a binding agreement for a US$7.5 million convertible loan facility with AGR Energy Limited No.1 (AGR Energy).

Tethys also announced that it had entered into a limited period of exclusivity with AGR Energy to negotiate a potential larger financing. The exclusivity period runs through to 12 June 2015 and is subject to certain customary exceptions.

Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region.

AGR Energy is a company owned by the Assaubayev family, who are long-term investors in natural resources and metals and mining, and have a track record of effective investment and support of enterprises, particularly in Central Asia and other emerging markets.

We advised AGR Energy in the negotiation of this agreement with a team that included Charles Bond and David Brennan.

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