Brief: Eon Nrg Ltd Will Be Implementing A Series Of Cost Cutting Steps

Voltaic Strategic Resources

13/03/2020 07:13

March 13 (Reuters) - Eon NRG ltd  E2E.AX :
    * WILL BE IMPLEMENTING A SERIES OF COST CUTTING STEPS
INCLUDING
CURTAILING OPERATIONS EXPENDITURES
    * CO WILL ALSO BE IMPLEMENTING A SERIES OF FURTHER OVERHEAD
COST
REDUCTIONS AND SALARY REDUCTIONS OVER NEXT FEW WEEKS
    * SUB-ECONOMIC WELLS COULD BE SHUT IN TO PRESERVE
OPERATIONAL
CASHFLOW
    * IS IN DISCUSSIONS WITH ANB BANK ON HOW DROP IN OIL PRICES
EFFECT
CO'S COVENANTS ON REVOLVING LINE OF CREDIT

Source text for Eikon:  ID:nASXtfx6H 
Further company coverage:  E2E.AX 

 (Reuters.Briefs@thomsonreuters.com)