Crocotta Energy Announces Syndicated Bank Credit Facility

CALGARY, ALBERTA–(Marketwired – July 16, 2013) –

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CROCOTTA ENERGY INC. (TSX:CTA) (“Crocotta“) is pleased to announce that it has entered into a syndicated credit facility (the “Facility“) with a syndicate of three chartered banks consisting of National Bank of Canada (as Administrative Agent), the Bank of Nova Scotia, and Alberta Treasury Branches and National Bank Financial as lead arranger and sole bookrunner.

The Facility has a committed borrowing base of $145 million and replaces Crocotta’s previous demand credit facility of $140 million. The Committed Facility revolves for a 364 day period and will be subject a semi-annual borrowing base review. If not extended by the July 11, 2014 extension date, the Facility will become due and payable in one year.