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Caza Funding Permian Bone Spring Exploration with Loan
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Caza Oil & Gas, Inc. has announced that it has entered into an agreement in relation to a $4.3 million convertible unsecured loan to be made available by YA Global Master SPV Ltd., an investment fund managed by Yorkville Advisors LLC.
The Loan consists of $3.5 million of new credit facilities along with an additional $0.84 million that will be used to repay amounts which remain outstanding under the prior loan from Yorkville. Caza intends to use the funds from the Loan, together with funds available pursuant to its debt facility with Apollo Investment Management, to continue its leasing and drilling program in the Bone Spring Play in Lea and Eddy Counties in Southeastern New Mexico.
W. Michael Ford, Chief Executive Officer commented: "We're pleased to announce this financing, which…
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