Westport, Connecticut, Oct. 1, 2015 (GLOBE NEWSWIRE) -- The American Energy Group, Ltd. (AEGG) announced today that it has entered into a loan transaction with an individual investor for the borrowing of $200,000. The current loan, which is unsecured, provides for an interest rate of 5.0% per annum and a 3-year maturity date. The proceeds of the loan transaction will be used for general and administrative operating capital, including accounting expenses.
This news release contains forward-looking statements, including estimated time lines for future events. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, including potential production rates and potential reserves, which estimates are unproven and not based upon actual production data or historical facts. Forward-looking statements are subject to uncertainties and risks including, but not limited to, economic conditions, drilling risks and actual operating conditions and results, deviation in costs of critical equipment and services, deviation in production decline rates, the impact of competition and commodity pricing, and domestic and foreign governmental regulation and approvals.
All forward-looking statements in this disclosure, whether made by, or on behalf of the Company or by or on behalf of the project operator, are expressly qualified by the above cautionary statements and any other cautionary statements which accompany the forward-looking statements. In addition, the Company disclaims any obligation to update forward-looking statements to reflect events or circumstances after the date hereof.