June 21, 2016 / 9:17 PM / a year ago

BRIEF-Zargon Oil & Gas announces renewal of credit facilities

June 21 (Reuters) - Zargon Oil & Gas Ltd :

* Newed and extended its committed syndicated credit facilities with a borrowing base of $70 million, down from $88 million

* Reduced borrowing base compares with zargon’s outstanding bank debt of $64.6 million at March 31, 2016

* Credit facilities are now fully revolving until Sept 22, with provision for a nine month extension at option of lenders and upon request

* Zargon oil & gas ltd. Announces renewal of credit facilities Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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