Nucorp Energy Issues 5% Note to Bridge Oil
Nucorp Energy Inc. on Tuesday said that it had refinanced a $7.8-million loan by issuing a 5%, three-year note to Bridge Oil (U.S.A.) Inc., a publicly held Australian oil and gas exploration and production company. The note, issued through Nucorp’s wholly owned Pin Oak Petroleum subsidiary, is convertible into a 50% interest in Pin Oak’s assets.
Nucorp is a San Diego-based oil and gas producer that emerged from bankruptcy reorganization proceedings last year.
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