Saber Energy gets 30-day loan extension :: Mmegi Online

Canadian exploration company, Talon Metals Corp said on Tuesday that it has agreed to a 30-day extension on the maturity date of the P40 million loan it gave to Saber Energy, a Botswana-focused Coal Bed Methane (CBM) explorer.

The original maturity date of the loan is March 24, 2009. "The company will update shareholders when the discussions are concluded. In the event that the discussions do not result in a further extension to the loan and the interest earned being agreed upon, the loan would become immediately due," Talon said in a statement.

Talon added that its due diligence review of Saber regarding a potential merger of the two companies is on. "Saber has some important work underway at present, which, if successful, has the potential to increase the value of Saber's CBM properties in Botswana, and accordingly would bring value to all shareholders," president and CEO of Talon, Stuart Comline said.

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Saber Energy gets 30-day loan extension

Canadian exploration company, Talon Metals Corp said on Tuesday that it has agreed to a 30-day extension on the maturity date of the P40 million loan it gave to Saber Energy, a Botswana-focused Coal Bed Methane (CBM) explorer.

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