CALGARY, Alberta, June 14, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce that it has entered into an amended credit facility agreement (the “Credit Facility”) with its lender. The Credit Facility will mature on June 16, 2020 and the borrowing base remains at $7.0 million. Other than outstanding letters of credit totalling approximately $1.6 million, the Company currently has no amounts drawn under the Credit Facility.
OVERVIEW OF CEQUENCE
Cequence is engaged in the exploration for and the development of oil and natural gas reserves. The Company’s primary focus is the development of its Simonette asset in the Alberta Deep Basin with other non-core assets in Northeast British Columbia and the Peace River Arch of Alberta. Further information can be found at www.cequence-energy.com.
The TSX has neither approved nor disapproved the contents of this news release.
For further information, please contact:
Chief Executive Officer
Phone: (403) 806-4049
Vice President, Finance and Chief Financial Officer
Phone: (403) 806-4041