Trapoil (AIM:TRAP) the independent oil and gas exploration, appraisal and production company focused on the UK Continental Shelf ("UKCS") region of the North Sea is pleased to announce that on 29 January 2013, it entered into a three-year senior secured borrowing base facility agreement of up to US$20 million with an affiliate of GE Energy Financial Services ("the Facility") and associated hedging arrangements with Britannic Trading Limited ("Britannic"), a subsidiary of BP International Limited (the "Oil Price Hedging Arrangements").
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- Agreement Includes Construction of New Subsea Manufacturing Facility
- JV to Prioritize Domestic Demand in Angola
- Furthers GE's Commitment to the Future of Angola
LUANDA, ANGOLA---January 28, 2013--- GE Oil & Gas (NYSE: GE) and the Angolan group GLS Holding S.A. today announced the formation of a new joint venture, GE-GLS Oil & Gas Angola Limited, to better support Angola's rapidly growing oil and gas sector.