CALGARY, AB – Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today that the maturity date applicable to the Company’s second lien Term Loan has been extended to May 14, 2021. The extension of the second lien Term Loan, and the previously announced extension of the Company’s first lien revolving credit facility, provides additional time to finalize negotiations with its lenders and for the Company to explore opportunities to enhance its liquidity. If the Company’s revolving credit period applicable to its credit facility is not extended beyond April 30, 2021, the revolving credit facility will cease to revolve, and all outstanding balances will be repayable.
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 conventional natural gas assets in the deep basin of West Central Alberta, heavy crude oil and shallow conventional natural gas in Eastern Alberta, and undeveloped bitumen 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.