DIVERSIFIED RBL TYPE FACILITIES TO ADRESS VARIOUS FINANCING NEEDS

BRIDGE

Facility: Amount fixed on a case by case basis
Purpose: To finance acquisitions or licenses purchase
Tenor: Short-term, until repaid by Senior facility

SENIOR RBL FACILITY

Facility Fully revolving credit facility
Borrowing Base: Based on Proved Reserves + a portion of Probable in certain cases
Purpose: To finance development and production on the existing reserve base, working capital and eventually acquisition
Tenor: Medium-term (5years & more)
Collateral: Charge on interests in oil & gas properties and major contracts
Collection Account: Domiciliation of revenues at the banking agent’s counters
Amortization: According to cash flow ratios

 

STRETCH

Identical to the Senior Facility, except:
Amount: additional amount based on stretched CF ratios
Purpose: Development of the existing reserve base and acquisition
Amortization: According to cash flow ratios (less restrictive than senior tranche)


MEZZANINE

Facility: Amount fixed on a case by case basis (subordinated credit facility)
Purpose: Acquisition
Tenor: Senior facility Tenor + 1 day
Amortization: Bullet