CALGARY, AB – Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today the extension of the revolving credit period applicable to the Company’s existing $20 million credit facility to October 30, 2020. The credit facility continues to be available on a revolving basis until that date. The date for the redetermination of the borrowing limit has also been extended until October 30, 2020. The extension of the borrowing limit redetermination provides additional time to finalize negotiations with its lenders and for the Company to explore opportunities to enhance its liquidity. If the revolving period applicable to the credit facility is not extended beyond October 30, 2020, the credit facility will cease to revolve, and all outstanding balances will be repayable on November 30, 2020.
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.