Dec 5 (Reuters) - Hyduke Energy Services Inc HYD.TO :
* ANNOUNCES REPAYMENT OF OPERATING LINE, NEW CREDIT FACILITY, SUBSIDIARY BANKRUPTCY AND UPDATE ON STRATEGIC INITIATIVES
* SAYS ENTERED INTO A 12-MONTH SECURED CREDIT FACILITY WITH PILLAR CAPITAL CORP. FOR CDN $1,500,000
* HAVE BEEN EXTENSIVELY SEEKING, REVIEWING AND PURSUING STRATEGIC ALTERNATIVES
* COMPANY HAS ENTERED INTO AGREEMENTS TO SELL TWO OF ITS AUXILIARY BUILDINGS IN NISKU, AB FOR A TOTAL OF $4.5 MILLION
* HYDUKE ENERGY SERVICES-RECEIVED CONFIRMATION ON REPAYMENT IN FULL OF OPERATING LINE,SATISFIED ALL OUTSTANDING CONDITIONS WITH NATIONAL BANK OF CANADA
* HYDUKE ENERGY SERVICES- ON NOVEMBER 21, CO'S UNIT WESTERN MANUFACTURING MADE ASSIGNMENT INTO BANKRUPTCY FOR GENERAL BENEFIT OF CREDITORS
* CREDIT FACILITY BEARS INTEREST AT 1.75% PER MONTH ON DAILY BALANCES OUTSTANDING AND PAYMENTS WILL BE MADE MONTHLY