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BRIEF-Perpetual Energy Inc. Provides Credit Facility, Q1 2020 Capital Program Update

Published 2019-12-24, 02:54 p/m
© Reuters.  BRIEF-Perpetual Energy Inc. Provides Credit Facility, Q1 2020 Capital Program Update
PMT
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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

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