Donnycreek Increases Credit Facility
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 12/10/14 -- Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE: DCK) reports that it has increased its existing extendible, revolving term, demand credit facility with its lender from $15 million to $25 million, of which approximately $6 million is currently drawn.
Donnycreek is a Calgary based public oil and gas company which holds approximately 439 gross (313 net) sections of petroleum and natural gas rights, with an average working interest of approximately 70%, prospective primarily for Montney liquid rich natural gas resource development all of which are located in the Deep Basin area of west-central Alberta.
Further information relating to Donnycreek is also available on its website at .
ADVISORY ON FORWARD-LOOKING STATEMENTS: This news release contains certain forward-looking information and statements ("forward-looking statements") within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking statements. In particular and without limitation, this news release contains forward-looking statements concerning the primary prospective zone for development on the Company's lands.
Forward-looking statements are based on a number of material factors, expectations or assumptions of the Company which have been used to develop such statements and information but which may prove to be incorrect. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information regarding some of these risks, expectations, assumptions and other factors may be found in the Company's Annual Information Form and Management's Discussion and Analysis prepared for the year ended July 31, 2014. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contacts:
Donnycreek Energy Inc.
Malcolm Todd
President and Chief Executive Officer
403-237-5700
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Datum: 11.12.2014 - 00:35 Uhr
Sprache: Deutsch
News-ID 358724
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
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