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BRIEF-Bnk Petroleum Says Co's Unit Bnk Petroleum Has Received Bank Borrowing Base Redetermination On Its Revolving Line Of Credit

Published 2020-04-07, 08:33 p/m

April 7 (Reuters) - Bnk Petroleum Inc BKX.TO :

* SAYS CO'S UNIT BNK PETROLEUM HAS RECEIVED BANK BORROWING BASE REDETERMINATION ON ITS REVOLVING LINE OF CREDIT FROM BOK FINANCIAL

* CONCURRENT WITH REDETERMINATION, BNK MADE A $3 MILLION PRINCIPAL PAYMENT ON ITS LINE OF CREDIT, REDUCING OUTSTANDING AMOUNT TO $23.5 MILLION

* HAS AGREED TO MAKE FUTURE PRINCIPAL PAYMENTS TO FURTHER REDUCE BORROWING BASE TO $21.0 MILLION BY NOVEMBER 2020

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