Company update
Source: Matra Petroleum AB
June 10, 2019 03:05 ET
Creditors under credit agreements with Legacy Texas Bank and Melody Business Finance have demanded acceleration of Matra’s US subsidiaries’ obligations and notified these companies that all debt, in total at least USD 73.6 million, is due and immediately payable to the creditors.
The creditors have further requested that collateral for the loans is sold at forelosure sales on July 2, 2019. The collateral includes essentially all Matra Petroleum’s oil and gas assets.
Matra Petroleum’s U.S subsidiaries have not secured refinancing, are considering liquidation options, and will take action in accordance with relevant insolvency legislation in the USA.
For further information please contact:
Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95
This information is information that Matra Petroleum AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 10 June 2019, at 09:05 CET.
About Matra Petroleum
Matra Petroleum AB (publ) is a Swedish independent oil and gas exploration and production company operating in the United States, where the company owns and operates 170 leases, covering an area of 45,640 net acres in the Panhandle region in Texas. Matra’s reserves amount to 22.8 million barrels of oil equivalent. Matra Petroleum 's shares are traded on NASDAQ First North in Sweden under the symbol MATRA. Mangold Fondkommission AB is Certified Adviser (www.mangold.se,Tel: +46 (0) 8 50 30 1550, Email: CA@mangold.se). Web: www.matrapetroleum.com
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