December 7, 2016 / 5:52 PM / in 10 months

BRIEF-Madalena announces a strategic transaction at Coiron Amargo Sur Este with Pan American Energy

Dec 7 (Reuters) - Madalena Energy

* Madalena announces a strategic transaction at Coiron Amargo Sur Este with Pan American Energy and a Debt Financing Agreement

* Madalena Energy Inc - will receive cash payments of an aggregate of $10 million by closing of deal

* Madalena Energy -As per transaction, a 2017 work program will be undertaken by Pan American Energy, with a net benefit to Madalena of $5.6 million

* Madalena Energy Inc - Pan American Energy will provide a limited recourse loan to Madalena of up to $40 million

* Madalena Energy Inc says limited recourse loan will bear interest at 7% per annum and is repayable in 5 years Source text for Eikon: Further company coverage:

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