Limerick-based Circle Oil has reached agreement to extend its $30 million convertible loan for a further period of three years to 19th July 2015.
The loan was due to mature on 19th July 2012 but a subsidiary of Kuwait based PetroLink Holding Company agreed the deal.
Circle has agreed to grant PetroLink options over 30 million shares, representing 5.3 per cent of the current issued share capital of the company.
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