Dome Energy Inc becomes debt free by repaying its bank debt with a discount of more than MSEK 200
Dome Energy AB (publ) (herein after “Dome” and/or “the Company”) announces that the US subgroup Dome Energy Inc has acquired its debt note with Its US bank, and becomes debt free
Dome Energy is proud to announce that it has closed a transaction to buy its debt note at a price of $4.4m. Dome Energy has sold off hedges and the previously announced sale of its assets in the Illinois Basin, to be able to acquire the debt note. The nominal value of the debt was $25.8m, so the price was heavily discounted.
CEO comments;
Paul Morch, CEO: “We are finally in a position where we are not burdened by a large debt and can now focus on developing our remaining asset base. These assets are our legacy production and has a great upside potential to our reserve base. The current oil price environment opens up a lot of possibilities for us, and we will make sure to take advantage of a clean balance sheet and create further shareholder value.”
For further information, please contact:
Paul Morch, CEO
Phone: +1 713 385 4104
E-mail: pm@domeenergy.com
This information is the kind of information that Dome Energy AB (publ) is obliged to publicize according to EU Market Abuse Regulations (MAR). The information was publicized, by the above contact person April 1, 2020 08.45 CEST
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on Nasdaq First North Growth Market in Sweden (Ticker: DOME). Mangold Fondkommission AB, phone: +46 8 503 01 550, CA@mangold.se is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore Oil & Gas reserves in the United States. For more information visit www.domeenergy.com.
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