Brief: Perpetual Energy Inc. Provides Credit Facility, Q1 2020 Capital Program Update

Perpetual Energy

24/12/2019 19:54

Dec 24 (Reuters) - Perpetual Energy Inc  PMT.TO :
    * PERPETUAL ENERGY INC. PROVIDES CREDIT FACILITY, FIRST
QUARTER
2020 CAPITAL PROGRAM AND SEQUOIA LITIGATION UPDATE
    * PERPETUAL ENERGY INC - REVOLVING BANK DEBT BORROWING LIMIT
WILL
BE REDUCED BY CO'S LENDERS FROM $55 MILLION TO $45 MILLION ON OR
PRIOR TO JAN 22, 2020
    * PERPETUAL ENERGY INC - CREDIT FACILITY WILL CONTINUE TO
REVOLVE
UNTIL MARCH 31, 2020, MAY BE EXTENDED FOR A FURTHER PERIOD OF UP
TO 364 DAYS
    * PERPETUAL ENERGY - BOARD APPROVED CAPITAL SPENDING PROGRAM
FOR
Q1 2020 TO DRILL, COMPLETE & TIE-IN UP TO FOUR (4.0 NET)
DEVELOPMENT WELLS
    * PERPETUAL ENERGY INC - NEXT BORROWING LIMIT
REDETERMINATION FOR
CREDIT FACILITY SCHEDULED ON OR PRIOR TO MARCH 31, 2020
    * PERPETUAL ENERGY INC - PERPETUAL HAS AVAILABLE LIQUIDITY
SUFFICIENT TO FUND ITS Q1 DRILLING PROGRAM
    * PERPETUAL ENERGY INC - IF NOT EXTENDED, CREDIT FACILITY
WILL
CEASE TO REVOLVE, AND ALL OUTSTANDING ADVANCES WILL BE REPAYABLE
ON NOVEMBER 30, 2020

Source text for Eikon:  urn:newsml:reuters.com:*:nCNWmJdf0a
Further company coverage:  PMT.TO 

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