Brief: Cwx Global Updates On Impact Of Covid-19 On Co's Ops

Capallianz Holdings

15/05/2020 16:08

May 15 (Reuters) - CWX Global Ltd  CWXG.SI :
    * PLANS FOR NEW DRILLING CAMPAIGN & WELL WORKOVERS TO
INCREASE
PRODUCTION OF OIL BEEN DELAYED TILL LATER PART OF 2020
    * EXPECTS TO RECORD MUCH LOWER REVENUE FOR CURRENT FY ENDING
30
JUNE 2020
    * SHARP FALL IN OIL PRICE RESULTED IN SIGNIFICANT DECREASE
IN BOTH
REVENUE & CASHFLOW OF GROUP
    * CURRENTLY IN TALKS WITH ITS PRINCIPAL BANK TO EXTEND TENOR
OF
BANK FACILITY WHICH WILL MATURE IN END JULY 2020
    * ALSO IN TALKS WITH POTENTIAL INVESTORS TO INJECT NEW
BUSINESSES
AND EQUITY INTO GROUP

Source text for Eikon:  ID:nSNZ3Z13QN 
Further company coverage:  CWXG.SI 

 (Reuters.Briefs@thomsonreuters.com)