Samson Oil & Gas reports $33.5 million debt refinancing; Lagasco gets C$22 million loan

By Devika Patel

Knoxville, Tenn., April 11 – The private placement markets saw some activity on Thursday, with one new deal announced and another refinanced.

Samson Oil & Gas Ltd., a Perth, Western Australia-based oil and natural gas exploration company, reported that it completed a $33.5 million debt refinancing with AEP I Finco LLC, and Vancouver, B.C.-based Lagasco Corp., a petroleum and natural gas company, concluded a C$22 million senior secured term loan.

Samson Oil & Gas’ loan, due in five years, bears interest at a floating rate equal to Libor plus 1,050 basis points.

Proceeds will be used to retire the company’s existing line of credit, repay outstanding creditors and provide working capital to pursue an infill development drilling program.

Lagasco has received a C$22 million senior secured term loan from Integrated Asset Management Corp.

Proceeds will be used to purchase a portfolio of producing oil and gas assets located in Southwestern Ontario.

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