13 October 2010
ONE (Oranje-Nassau Energie B.V.) announces the closing of a $150.000.000 reserve base lending facility with ING, ABN AMRO and BNP Paribas. The new facility, on competitive terms, will be used to refinance existing facilities and provides significant room for financing new acquisitions.
Alexander Berger, CEO of ONE notes "We are very happy with this new facility backed by three experienced oil and gas banks. Their commitment shows support of our ambitious growth strategy. The competitive terms are a reflection of our high quality asset base and strong financial position."
ONE based in Amsterdam, is a privately owned oil & gas company with investments in oil & gas fields in the Netherlands, UK, and Gabon. The ONE asset base contains some 20 mln boe of developed 2P reserves and produces about 7,000 boe/day. ONE is strategically positioned to grow its existing asset base in the countries it is presently active, as well as developing its current relationship with La Cortez Energy, Inc., a US based upstream company with expanding operations in Colombia. ONE is managed by a unique team of industry specialists, who have broad international experience in valuing E&P assets and a proven track record of successful E&P investments.
ONE has the ambition to expand the reserves base from 20 mln boe to at least 80 mln boe within 5 years and to acquire and build a mixed portfolio of operated and non-operated assets. ONE is prepared to consider wider investments in emerging markets. This aggressive strategy is backed by a strong financial position and dedicated private shareholders, with long term growth aspirations.
For more information please visit www.onebv.com
Tel: 0031 20 567 71 17
M: 0031 6 23 36 54 50