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Magnolia Petroleum provides trading update and increase in credit facility


Published Mar 17, 2014
Magnolia Petroleum-3

Magnolia Petroleum announce that the Board anticipates that full year EBITDA (adjusted for any forex gains/losses) is expected to be ahead of market expectations, while full year revenues are expected to be in line with market expectations showing year on year growth of approximately 240%. The Company intends to announce its full year results on or around 1 May 2014.

As a result of the strong trading performance during the year to 31 December 2013 and the significant increase in the number of proposals the Company is receiving to participate in wells on its US onshore leases, the borrowing base limit of its Credit Facility has been increased to US$2.1m.

Tags: Magnolia Petroleum




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