Brief: Bonterra Energy Corp. Successfully Completes Financing Initiatives And Continues To Recommend That Shareholders Reject The Obsidian Hostile Bid

Bonterra Energy

16/11/2020 12:23

Nov 16 (Reuters) - Bonterra Energy Corp  BNE.TO :
    * BONTERRA ENERGY CORP. SUCCESSFULLY COMPLETES FINANCING
INITIATIVES AND CONTINUES TO RECOMMEND THAT SHAREHOLDERS REJECT
THE OBSIDIAN HOSTILE BID
    * BONTERRA ENERGY - EXECUTED DOCUMENTATION TO OBTAIN
FINANCING
REQUIRED TO IMPLEMENT BONTERRA'S GO-FORWARD STRATEGIC PLAN
    * BONTERRA ENERGY CORP - ACHIEVED EDC AND BDC FUNDING
    * BONTERRA ENERGY CORP - OVER FIRST SIX MONTHS OF 2021,
BONTERRA
IS BUDGETING TO DRILL 13 GROSS WELLS (13 NET) AND COMPLETE 17
GROSS WELLS
    * BONTERRA ENERGY CORP - ANTICIPATES AVERAGE PRODUCTION
VOLUMES
WILL RETURN TO 2019 PRE-COVID LEVELS OF APPROXIMATELY 13,000 BOE
PER DAY
    * BONTERRA ENERGY CORP - EXPECTS TO INCUR CAPITAL
EXPENDITURES OF
APPROXIMATELY $23 MILLION IN Q4 2020

Source text for Eikon:  ID:nCNWqsS64a 
Further company coverage:  BNE.TO 

 ((Reuters.Briefs@thomsonreuters.com;))