Decklar Resources Inc. Announces Private Placement Financing, Update on Oza Oil Field Well Re-Entry and Debt Financing
Closing of this private placement is expected to provide sufficient funds to re-enter the Oza-1 well and to re-establish oil production at the Oza Oil Field through the Companys wholly-owned Nigeria-based subsidiary, Decklar Petroleum Limited.
- Closing of this private placement is expected to provide sufficient funds to re-enter the Oza-1 well and to re-establish oil production at the Oza Oil Field through the Companys wholly-owned Nigeria-based subsidiary, Decklar Petroleum Limited.
- The previously announced debt funding plans are at final stages of being concluded, which will provide additional development funding for further operations and development drilling of the Oza Oil Field.
- The common shares to be issued as a result of this private placement will be subject to a four-month trading restriction.
- Subsequent well re-entries and additional development drilling at the Oza Oil Field further supports the Companys organic growth strategy.