Brief: Bonterra Energy Corp. Announces Extension Of Bank Line Redetermination Date, Corporate Update And Confirms New Board Nominees

Bonterra Energy

30/04/2020 13:32

April 30 (Reuters) - Bonterra Energy Corp  BNE.TO :
    * BONTERRA ENERGY CORP. ANNOUNCES EXTENSION OF BANK LINE
REDETERMINATION DATE, CORPORATE UPDATE AND CONFIRMS NEW BOARD
NOMINEES
    * BONTERRA ENERGY CORP - WITHDRAWING ITS 2020 CORPORATE
GUIDANCE
PREVIOUSLY PROVIDED IN COMPANY'S PRESS RELEASE ON FEBRUARY 12
    * BONTERRA ENERGY - CO'S SYNDICATE OF LENDERS HAS CONFIRMED
EXTENSION TO CO'S ANNUAL BANK FACILITY REVIEW, REDETERMINATION
DATE TO MAY 29 FROM APRIL 28
    * BONTERRA ENERGY CORP - IS TAKING STEPS TO REDUCE
PRODUCTION
LEVELS TO PROTECT AGAINST SELLING OIL AT NEGATIVE MARGINS AND TO
PRESERVE LONG TERM VALUE
    * BONTERRA ENERGY CORP - HAS IMPLEMENTED SIGNIFICANT COST
SAVING
INITIATIVES TO REDUCE MONTHLY OPERATING AND GENERAL AND
ADMINISTRATIVE COSTS
    * BONTERRA ENERGY CORP - COMPANY HAS APPLIED FOR FEDERAL
GOVERNMENT'S CANADA EMERGENCY WAGE SUBSIDY (CEWS)
    * BONTERRA ENERGY CORP - EXPECTS TO PURSUE ADDITIONAL
OPPORTUNITIES TO ACCESS CREDIT SUPPORT BEING OFFERED BY
GOVERNMENT OF CANADA

Source text for Eikon:  ID:nCNWmLgLga 
Further company coverage:  BNE.TO 

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