Brief: Cardinal Energy Ltd Announces Update On Credit Facility

Cardinal Energy (Alberta)

25/11/2020 24:18

Nov 24 (Reuters) - Cardinal Energy Ltd (Alberta)  CJ.TO :
    * CARDINAL ENERGY LTD. ANNOUNCES UPDATE ON CREDIT FACILITY
    * CARDINAL ENERGY - AGREED TO A TERM SHEET REFLECTING
EXTENSIVE
DISCUSSIONS WITH CERTAIN EXISTING AND NEW LENDERS
    * CARDINAL ENERGY - TERMS ARE STILL AWAITING FORMAL
APPROVALS FROM
INVOLVED PARTIES WHICH ARE EXPECTED TO BE RECEIVED BY DECEMBER
15, 2020
    * CARDINAL ENERGY - CREDIT FACILITY IS EXPECTED TO BE
RENEWED FOR
$225 MILLION WITH CURRENT MARKET TERMS FOR A CONFORMING RESERVE
BASED LENDING FACILITY

Source text for Eikon:  ID:nGNXQWmfq 
Further company coverage:  CJ.TO 

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