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1. Background to the issue of the Bonds

The Bonds were issued in June 2014 in order to repay outstanding debt and to fund the Bentley field development engineering work programme.  At the time, Xcite Energy Limited (“XEL” or the “Company”) intended to secure additional funding for the development of the Bentley field and repay the Bonds ahead of their maturity on 30 June 2016.

Published : Monday, November 28, 2016 5:52 PM UTC