Key Developments: Jubilant Energy NV (JUB.L)

JUB.L on London Stock Exchange

11.25GBp
27 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Jubilant Energy NV sign funding agreement
Monday, 1 Sep 2014 03:30am EDT 

Jubilant Energy NV:On Aug. 29, 2014, its operating subsidiary company in India entered into funding arrangement with Jubilant Enpro Private Limited for an unsecured loan facility amounting to 500,000,000 Indian Rupees equivalent to about $8.3 mln (the Loan).The Loan has tenor of one year and an interest rate of 15.5 pct per annum.The Loan may be drawn in one or more tranches at any time until March. 31, 2015.These funds will be used for funding operations of Group including debt repayments and servicing.  Full Article

Jubilant Energy NV signs funding agreement
Wednesday, 4 Jun 2014 03:25am EDT 

Jubilant Energy NV:Enters into funding arrangement with Jubilant Energy (Holding) BV for an unsecured loan of $5 mln (the Loan).Loan has tenor of one year and an interest rate of 6 months USD LIBOR plus 4.5 pct per annum.These funds will be used for funding the operations of the Group and it is anticipated that the company will enter into further such loans in the near term.  Full Article

Jubilant Energy NV Signs Funding Agreement
Wednesday, 18 Sep 2013 04:17am EDT 

Jubilant Energy NV announced that on September 17, 2013 it entered into a funding agreement with two Jubilant Bhartia Group companies. The agreement allows for borrowing of up to INR 2,700 million (approximately USD 45 million) in aggregate, for a period of three years and will be structured as unsecured loans. The Loans will partly be denominated in Indian rupees and partly in US Dollars and will bear interest at a rate of 15.50% p.a. and 6 month USD LIBOR plus 3% p.a., respectively. The Loans may be drawn down in one or more tranches at any time until March 31, 2014, with both the amount and denomination of each tranche at the discretion of the Company. These funds will be applied to funding the operations of the Company.  Full Article

Jubilant Energy NV Announces Appointment Of CEO
Monday, 16 Sep 2013 07:09am EDT 

Jubilant Energy NV announced that Mr Rakesh Jain has been appointed as an Executive Director and Chief Executive Officer of the Company.  Full Article

Jubilant Energy NV Announces Proposed Appointment Of Chief Executive Officer
Monday, 12 Aug 2013 02:00am EDT 

Jubilant Energy NV announced the proposed appointment of Mr Rakesh Jain as an Executive Director of the Company and designated as Chief Executive Officer for an initial period upto August 11, 2016.  Full Article

Jubilant Energy NV Announces Spudding of the Third Well of Phase-III-Extension Development Drilling Campaign in Oil Producing Kharsang Field
Monday, 22 Apr 2013 02:40am EDT 

Jubilant Energy NV announced that KPL-3E-6, the third well of the six wells Phase-III-Extension development drilling campaign in the oil producing Kharsang Field, Arunachal Pradesh, was spud on 20 April 2013. KPL-3E-6 is located in the central part of the field and is planned to exploit the untapped hydrocarbons in the infill area between wells KSG#11 and KSG#25, with the H-00 layer as the primary objective and the G-00 and I-00 layers as secondary objectives. The well is planned to be deviated by approximately 140 metres towards the southeast from the existing drilling pad of KSG#11 and will be drilled to a target depth of approximately 1,021 metres Measured Depth ("MD") and 1,000 metres True Vertical Depth ("TVD"). The well is expected to take approximately three weeks to drill. The second development well of the current campaign, KSG#66 (previously referred to as KPL-3E-4), which was spudded on March 23, 2013, was successfully drilled to a revised target depth of 1,128 meters MD and 1,047 metres TVD on April 8, 2013. Based on the results of wire-line log interpretation, drill cuttings and formation pressure data from the Reservoir Dynamic Tester, twelve potentially hydrocarbon bearing sands have been encountered in the well with a total net pay of 50.31 metres, out of which seven appear to be oil bearing with a total net pay of 30.33 metres. The company will be testing the sands and expects to put the deepest oil-bearing sand on production within two weeks.  Full Article

Jubilant Energy NV Announces Chief Executive Officer Resignation
Thursday, 7 Feb 2013 07:00pm EST 

Jubilant Energy NV announced that Ajay Khandelwal has resigned as the Company's Chief Executive Officer and has left the Board by mutual agreement with immediate effect. The Company has initiated the process for appointing a new CEO and will provide an update in due course.  Full Article

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