CALGARY, AB –
Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today that the semi-annual borrowing base redetermination of the Company’s first lien credit facility has been completed and the previous
$17.0 million borrowing limit has been increased to
$30.0 million with an initial term to
May 31, 2023 and which which may be extended for a further twelve months to
May 31, 2024 subject to lender approval. If not extended by
May 31, 2023, all outstanding advances would be repayable on
May 31, 2024. The next semi-annual borrow base redetermination is scheduled on or before
November 30, 2022.
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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 conventional natural gas assets in the deep basin of West Central Alberta, heavy crude oil and shallow conventional natural gas in Eastern Alberta. Additional information on Perpetual can be accessed at www.sedar.com or from the Corporation’s website at www.perpetualenergyinc.com.
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