Nucorp Energy Issues 5% Note to Bridge Oil

Nucorp Energy Inc. on Tuesday said that it had refinanced a $7.8-million loan by issuing a 5%, three-year note to Bridge Oil (U.S.A.) Inc., a publicly held Australian oil and gas exploration and production company. The note, issued through Nucorp’s wholly owned Pin Oak Petroleum subsidiary, is convertible into a 50% interest in Pin Oak’s assets.

Nucorp is a San Diego-based oil and gas producer that emerged from bankruptcy reorganization proceedings last year.