CALGARY, June 7, 2016 /CNW/ – (TSX: TBE) – Twin Butte Energy Ltd. (“Twin Butte” or the “Company“) announces that its bank syndicate has not extended the maturity date of Twin Butte’s $85 million non-revolving credit facility past June 7, 2016 and has not extended the expiry of the revolving period of Twin Butte’s $140 million revolving credit facility past June 7, 2016. Unless otherwise agreed to by the lenders, the lenders will be entitled to make a demand for the full repayment of the amounts owing under such credit facilities on June 10, 2016, after which the lenders may elect to enforce their security.
About Twin Butte:
Twin Butte Energy Ltd. is a value oriented intermediate producer with a deep, low risk, drilling inventory focused on medium and heavy oil reservoirs. The common shares of Twin Butte are listed on the TSX under the symbol “TBE”.