CALGARY, ALBERTA–(Marketwired – Sept. 2, 2016) – Questfire Energy Corp. (the “Corporation” or “Questfire“) (TSX VENTURE:Q.A)(TSX VENTURE:Q.B) announces that its syndicate of lenders has agreed to defer the semi-annual borrowing base redetermination under the Corporation’s credit facilities from August 31, 2016 to September 15, 2016.
This deferral is accompanied by a reduction in the available aggregate borrowing base under such facilities from $45 million to $44.5 million. As of August 31, 2016, the Corporation had drawn approximately $43.5 million thereunder.
Questfire continues to focus on factors under its control, namely reducing controllable costs, maximizing production and exercising capital spending discipline.
About Questfire Energy Corp.
Questfire Energy Corp. is a junior oil and natural gas exploration and production company based in Calgary, Alberta.
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