Cooper Energy (ASX: COE) is pleased to advise that documentation has been fully signed for the recently advised adjustments to some terms and conditions of Cooper Energy's debt facility.

As announced on 30 June 2021, these adjustments include realignment of principal repayments through to expiry of the Transition Agreement on 1 May 2022 and re-sculpting of repayments through to maturity in 2024. The next quarterly principal repayment is $7 million due on 30 September 2021, which will reduce drawn debt to $211 million.

Managing Director David Maxwell again acknowledged the clear ongoing support provided by the members of Cooper Energy's lending syndicate1 . 'The adjustments to our debt facility further strengthen Cooper Energy's position to crystalise and grow the significant underlying value within our existing portfolio,' Mr Maxwell saidCooper Energy Limited (ASX: COE) is an exploration and production company which generates revenue from gas supply to south-east Australia and low-cost Cooper Basin oil production. The company is an emerging player in the south-east Australian energy sector holding a portfolio of gas supply contracts and one of the most extensive portfolios of gas-focused acreage and assets, including well located reserves and resources in the Otway and Gippsland basins. These include the Sole gas field in the Gippsland Basin which recently became the first new offshore gas development in south-east Australia to commence production in several years, the Casino Henry operations in the offshore Otway Basin and undeveloped resources such as Manta and Annie.

Disclaimer

This announcement may contain forward looking statements that are subject to risk factors related to oil, gas and associated businesses. The expectations reflected in these statements are believed to be reasonable. However, they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to diverge materially, including in respect of: price fluctuations and currency fluctuations, drilling and production results, actual demand, reserve estimates, loss of market, competition in the industry, risks (environmental, physical, political etc.), developments (regulatory and fiscal etc.), economic and financial market conditions in Australia and elsewhere, changes in project timings, approvals and cost estimates.

Contact:

David Maxwell

Tel: +61 8 8100 4900

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