EastBank Capital Issues Loan Agreement for Oil & Gas Development.
EastBank Capital issued a Loan Agreement for a Commercial Finance Loan to extract proven reserves of Oil & Gas prospects in Utah, North Dakota and Nevada.
Online, November 20, 2012 (Newswire.com) - EB Capital, LLC ("EastBank Capital") announced today that it has issued a Loan Agreement for a Commercial Finance Loan ("Loan") of Ten Million and 00/100 Dollars (USD $10,000,000.00). The proceeds of the Loan will be used for working and development capital for commercial extraction of proven Oil and Gas prospects in Utah, North Dakota and Nevada. The Oil and Gas assets are proven thru geology and engineering reports.
The Borrower currently develops Oil and Gas projects and seeks to develop new prospects that will significantly boost the Company's reserve base and cash flows, which could lead to higher company growth. The management team has a combined experience totaling 40 years in the oil and gas industry and currently has operations in Texas and Oklahoma.
"This Loan will assist the Borrower in developing proven Oil and Gas assets in the explosive growth areas in the energy sector in the United States," said Joshua Estes, Managing Director of EastBank Capital.
About EastBank Capital:
EastBank Capital is a leading international private firm offering Project Finance Loans to clients throughout the world with more than twenty years of combined experience.
The firm's executives provide a full range of capital solutions to the world's leading commercial and industrial enterprises, as well as to public and private companies. EastBank Capital's executives meet the needs of its clients by offering a highly integrated and collaborative range of expertise across key business sectors throughout its global network. EastBank Capital's integrated practice is underpinned by its team members' acknowledged expertise and a strong tradition of innovation and client service.