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Petronas Halts all Imports of Iranian Crude in South Africa

Engen, a South African based unit of Petronas, has announced that it has halted all crude imports from Iran, which used to account for 80 percent of

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Acquisition of Maari 3D Seismic Survey Commences

Cue energy has just released good news regarding permits for projects in New Zealand

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Environmental Approval Extended for Tassie Shoal LNG Project

MEO Australia Ltd has just received environmental approval for its Tassie Shoal LNG project.

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Petrobakken Reshuffle Debts with Closing of Senior Unsecured Notes Offering

Petrobakken Energy Ltd. (TSX:PBN) announced that they have closed their previous  private placement offering of senior unsecured notes in an aggregate principal amount of US$900 million, resulting in net proceeds to the company of approximately US$875 million after deduction of original issue and initial purchaser discounts and estimated offering expenses.

The notes bear interest at a rate of 8.625% per annum and mature February 1, 2020.
Proceeds from the notes offering are being used to repurchase and cancel US$450 million of convertible debentures, which will settle on January 31, 2012, with the remainder used to repay a portion of our secured credit facility. We expect, following the closing of the notes offering and completion of our previously announced non-core asset sale of our interest in the southeast Saskatchewan Weyburn Unit, to have approximately $675 million drawn on our credit facility, which is being increased to $1.5 billion effective January 31, 2012.

The notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

For full version click on the pdf file above.

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