Lime Petroleum Norway AS is pleased to announce that it has secured a two year extension of the Exploration Financing Facility (the “Facility”) with Skandinaviska Enskilda Banken AB. At the same time the size of the Facility has been reduces from NOK 700 million to NOK 400 million reflecting an expected reduced financing need the coming two years. The Facility was first secured in December 2013.
Mr. Ivar Aarseth has decided to step down from the position as CEO of Lime Petroleum Norway AS (“the Company”) and take retirement from 1 November 2016. He will from the same date be replaced by Mr. Terje Hagevang who has since May 2014 been employed as the COO/Exploration Manager of the Company. He will continue to cover these responsibilities together with the position as CEO.