Brief: Oryx Petroleum Corp Signs Agreements With AOG To Amend Loan Agreement

Forza Petroleum

12/03/2020 12:18

March 12 (Reuters) - Oryx Petroleum Corporation Ltd
 OXC.TO :
    * ORYX PETROLEUM CORPORATION LTD -  AGREEMENTS WITH AOG TO
AMEND
LOAN AGREEMENT, TO ESTABLISH A NEW SHORT TERM CREDIT FACILITY
    * ORYX PETROLEUM CORPORATION LTD - 2020 CAPITAL EXPENDITURE
FORECAST OF $53 MILLION
    * ORYX PETROLEUM CORPORATION - WORLDWIDE OUTBREAK OF
COVID-19
VIRUS, INCLUDING WITHIN IRAQ, HAS NOT IMPACTED OPERATIONS
    * ORYX PETROLEUM CORPORATION -  DOES NOT AT THIS TIME EXPECT
THAT
COVID-19 VIRUS OUTBREAK WILL RESTRICT OPERATIONS
    * ORYX PETROLEUM - AOG AGREED TO EXTEND MATURITY DATE OF
CREDIT
FACILITY TO JULY 1, 2021 IN CONSIDERATION FOR ISSUANCE OF 33.1
MILLION WARRANTS
    * ORYX PETROLEUM - AOG FURTHER AGREED TO PROVIDE CORPORATION
WITH
A $5 MILLION SHORT TERM CREDIT FACILITY
    * ORYX PETROLEUM - EXPECTS CASH ON HAND AS OF DEC. 31, CASH
RECEIPTS,  WILL ALLOW FUNDING OF FORECASTED CAPEX, OPERATING,
ADMIN COSTS INTO EARLY 2021

Source text for Eikon:  ID:nCNWL3JWFa 
Further company coverage:  OXC.TO 

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