RiverFort

August 12 2019 - RiverFort Global Opportunities Plc participates in £5.5 million agreement.


RiverFort are pleased to announce an agreement to participate in the £5.5 million loan agreement announced by UK Oil & Gas plc (“UKOG”) on 7 August 2019 in connection with the acquisition of Magellan Petroleum (UK) Investment Holdings Limited. (“Magellan”) Magellan holds a 35% direct interest in the Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licenses.


RiverFort’s participation in the loan is expected to be £700,000 and will be issued via participation certificate from RiverFort Global Opportunities PCC Limited. RiverFort continues to actively deploy its investment capital and in recent weeks has made other investments totalling over £150,000.