- Executed Debt facility Term sheet for increased facility size of up to USD$40M
- Term sheet is with significant New York Based Institutional Investor
- Facility supports funding of AOW’s aggressive conventional oil acquisition programme
- Closure of facility subject to loan documentation and completion of full due diligence
- A number of new additional Texas deals sourced & closing in Q4 2017
American Patriot Oil & Gas, Ltd. has signed a term sheet for an increased debt facility size of up to USD$40m with a major New York based institutional investor. The facility is subject to completion of loan documentation satisfactory to both parties and the completion of full technical due diligence on American Patriot’s recent and all future acquisitions. This process is expected to take 30-40 days.
American Patriot CEO Alexis Clark commented: “Execution of this term sheet is a key next step in further progressing American Patriot’s US conventional oil and gas acquisition programme. We welcome the partnership with such a significant New York based funder who are supporting AOW on the back of our conventional oil and gas acquisition strategy in Texas. This increased facility size will enable American Patriot to undertake a number of material acquisitions in the next 12months that will have the potential to significantly grow the production, cash flow and reserves base of the company and generate significant value”
“ We have a busy six months ahead as we have sourced a number of attractive new target assets, as we look to deliver on the strategy of aggressively building a producing conventional oil business with well over 1000bopd production in 2018” This is all underpinned by a growing reserve base.”
“With the deals recently announced AOW is on track to being cash flow positive and achieving production of 300boepd by the end of 2017 with 1 million barrels of proven oil and gas reserves certified by independent reserve reports. This will generate approximately $30m USD revenue at current oil and gas prices over a period of time. With the additional transactions we have sourced in the pipeline we are now well on track to exceeding this target”
About American Patriot Oil & Gas, Ltd.
American Patriot Oil & Gas, Ltd. (ANPOF/AOW) is an oil and natural gas exploration and development (E&P) group headquartered in Melbourne, Australia, with a U.S. office in Denver, Colorado. The Company has approximately 28,256 net mineral acres under lease across 5 key projects. The projects are geographically focused on tight oil exploration and development opportunities in the Rocky Mountain Basins. Since its establishment, AOW has assembled a portfolio of prospective oil and gas exploration assets in the USA and has completed joint venture agreements on its key Northern Star asset in Montana with U.S. based partners. AOW’s business model is to acquire a number of conventional producing properties with low operating costs onshore USA with reserve reports and significant production upside via shut in wells, workover potential, behind pipe potential and infill drilling upside.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated five hundred dollars cash and three hundred dollars in restricted stock for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com//disclosures/
