Xcite Energy gets Bentley licence extension (Scandinavian Oil-Gas Magazine)

Xcite Energy gets Bentley licence extension

Published Feb 19, 2016

Xcite Energy says that following discussions with the Oil & Gas Authority, the Secretary of State for the Department of Energy and Climate Change has extended the P.1078 licence containing the Bentley field until 30 June 2017.

This licence extension is expected to assist Xcite Energy Resources plc's ('XER', the Company's wholly owned subsidiary) current process to secure the financing required for the approval of its Bentley Field Development Plan and to repay its outstanding senior secured bonds, which are due for repayment by 30 June 2016.

Tags: Xcite Energy

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