The US Bankruptcy Court gave an order to Yuma Energy, Inc. to obtain DIP financing on an interim basis on August 13, 2020. As per the order, the debtor has been authorized to obtain a credit facility in the amount of $0.25 million (line of credit of $0.15 million and credit facility of $0.10 million) from Tamboran Resources Limited. The DIP loan would carry an interest rate of 10% p.a., along with an additional 8% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a commitment fee of 1% p.a. The DIP facility would mature either on December 13, 2020 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.05 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The final hearing has been scheduled for August 13, 2020.