13 September 2012
Enteq Upstream plc
("Enteq" or the "Company")
Signing of a New Revolving Credit Facility
Enteq Upstream plc, the oil and gas field services company, today announces that it has successfully secured a US$15 million revolving credit facility ("RCF") from HSBC Bank plc. This marks Enteq's initial RCF and delivers increased flexibility to enable the Company to continue to pursue its strategy of building a focused oil & gas products and technology business.
The Company intends to publish its results for the half-year ending 30 September 2012 on 28 November 2012.
Ian Leaman, Chief Financial Officer of Enteq, commented:
"I am delighted that the Company has secured this US$15 million facility with HSBC. It both endorses the Company's strategy for growth and demonstrates our ability to access debt finance. The facility provides us with deeper financial resources as we continue to develop our existing businesses and pursue further acquisition opportunities in the oil and gas products and technology markets."
For further information, please contact:
Enteq Upstream plc |
+44 (0) 20 7861 3232 |
Martin Perry, Chief Executive Officer |
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Ian Leaman, Chief Financial Officer |
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Investec Bank plc |
+44 (0) 20 7597 5970 |
James Grace, Patrick Robb |
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David Anderson |
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Pelham Bell Pottinger |
+44 (0) 20 7861 3232 |
Mark Antelme, Charlie Stewart |
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