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Article Excerpt
M2 PRESSWIRE-30 June 2008-Stockwire.com: Kentucky USA Energy, Inc. (OTCBB: KYUS) just released some important news.(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:30062008
Kentucky USA Energy, Inc. (OTCBB: KYUS) just announced Completion of $10 Million Credit Facility.
A dedicated Chat Room for Kentucky USA Energy, Inc., has been created at STOCKWIRE.com to discuss this news event.
Visit the following link to begin chatting with your fellow shareholders: http://www.stockwire.com/chat
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LONDON, Ky., Jun 30, 2008:
Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today that the Company has closed on a $10 million senior secured credit facility with NSES 12, LLC, a funding vehicle of New Stream Capital ("NSES"). At closing, the Company borrowed $2,500,000 and, at the sole discretion of NSES, may borrow up to an additional aggregate amount of $7,500,000 in tranches of a minimum of $2,500,000. All amounts borrowed from NSES must be used for the Company's development of its drilling program on its New Albany shale properties in the Illinois Basin in western Kentucky. This financing will provide the Company with the capital needed to begin to develop these properties. The NSES credit facility is secured by all of the properties now owned and to be acquired by...
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