CALGARY, AB – Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today that the revolving credit period applicable to the Company’s credit facility has been extended to December 23, 2020 and the $20 million borrowing limit maintained. The borrowing limit is scheduled to be redetermined and the revolving credit period extended on or before December 23, 2020. The extension of the revolving credit period provides additional time to finalize negotiations with its lenders and for the Company to explore opportunities to enhance its liquidity. If the revolving credit period is not extended beyond December 23, 2020, the credit facility will cease to revolve, and all outstanding balances will be repayable.
ADDITIONAL INFORMATION
About Perpetual
Perpetual is an oil and natural gas exploration, production and marketing company headquartered in Calgary, Alberta. Perpetual owns a diversified asset portfolio, including liquids-rich natural gas assets in the deep basin of west central Alberta, heavy oil and shallow natural gas in eastern Alberta, with longer term opportunities through undeveloped oil sands leases in northern Alberta. Additional information on Perpetual can be accessed at www.sedar.com or from the Corporation’s website at www.perpetualenergyinc.com.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.