Business
Berens Energy Ltd. Announces Increase in Bank Operating Facility
Berens Energy Ltd. Announces Increase in Bank Operating Facility.
About this update from Argenta Silver Corp
[{"type":"text","content":"\n\n\n\n\nBEN - TSX\n\nCALGARY, June 6 /CNW/ - Berens Energy Ltd. (\"Berens\" or the \"Company\") is\npleased to announce that it has received an increase to its operating bank\nfacility to $57.0 million from its former level of $45 million. The increase\nwas based on a review reserves added from the Company's winter drilling and\ntie-in activity. The bank facility combined with cash flow is expected to fund\nthe remaining 2006 capital program.\nThe second quarter drilling program is well under way with four of seven\nLanfine wells drilled and cased as potential gas wells. Upon successful\ncompletion, these wells can be tied in quickly. In Pembina two wells (1 net)\nhave been drilled and cased as potential gas wells and a third well is\ncurrently drilling. For the remainder of 2006 Berens plans to drill an\nadditional 11 (5.5 net) Pembina wells, seven Lanfine wells at 100% in\nOctober/November and one (0.25 net) Deep Basin well.\n\nForward-looking statements: This press release may contain\nforward-looking statements including expectations of future production, cash\nflow and earnings. These statements are based on current expectations that\ninvolve a number of risks and uncertainties, which could cause actual results\nto differ materially from those anticipated. These risks include, but are not\nlimited to: the risks associated with the oil and gas industry (e.g.\noperational risks in development, exploration and production; delays or\nchanges in plans with respect to exploration or development projects or\ncapital expenditures; the uncertainty of reserve estimates; the uncertainty of\nestimates and projections relating to production, costs and expenses and\nhealth, safety and environmental risks), commodity price and exchange rate\nfluctuation.\n%SEDAR: 00020114E\n\n\n","length":1837,"tagName":"div"}]