Cequence Energy Announces Confirmation of Its Credit Facility Borrowing Base
CALGARY, Alberta, Nov. 29, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce that its senior lender has completed a redetermination of the borrowing base under the Company’s senior secured credit facility (the “Credit Facility”), and has confirmed the borrowing base remains at $7 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 CEQUENCECequence 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:Todd Brown
Chief Executive Officer
Phone: (403) 806-4049
Vice President, Finance and Chief Financial Officer
Phone: (403) 806-4041