Suroco Energy Announces US$21M Credit Facility With Macquarie Bank

Suroco Energy Inc. (SRN.V) has entered into an agreement with Macquarie Bank Limited, which is acting as lender, to obtain a US$21 million senior secured credit facility. The corporation is also providing guidance on its planned 2013 drilling activity, capital spending and forecast production in addition to an update on its operational activities in Colombia.

In 2013, the corporation expects to drill 7 gross wells. At least 4 appraisal and development wells are anticipated to be drilled in the Cohembi oilfield in the Suroriente Block during the first half of the year and 3 exploration and stepout wells are anticipated to be drilled in the Alea 1848A and Suroriente Blocks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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