Business
Kelt Announces Extension of Credit Facility Re-Determination
Calgary, Alberta--(Newsfile Corp. - July 14, 2020) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" ...
About this update from Kelt Exploration Ltd.
[{"type":"text","content":"Kelt Announces Extension of Credit Facility Re-DeterminationCalgary, Alberta--(Newsfile Corp. - July 14, 2020) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") announced today the extension of the revolving period applicable to the Company's existing $350 million revolving credit facility, to August 31, 2020. The credit facility continues to be available, on a revolving basis, until that date. In connection therewith and subject to the satisfaction of certain requirements by the Company, the date for the re-determination of the borrowing base has also been extended to August 31, 2020. Kelt is an oil and gas company based in Calgary, Alberta focused on the exploration, development and production of crude oil and natural gas resources in Western Canada.For further information, please contact:Kelt Exploration Ltd., Suite 300, 311 - 6th Avenue SW, Calgary, Alberta, Canada T2P 3H2David J. Wilson, President and Chief Executive Officer (403) 201-5340, orSadiq H. Lalani, Vice President and Chief Financial Officer (403) 215-5310.Or visit our website at www.keltexploration.com.Advisory Regarding Forward-Looking StatementsThis press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words \"plans\", \"will\", \"may\", \"temporarily\", \"continue\", \"intends\" and similar expressions are intended to identify forward-looking information or statements. This press release contains forward-looking statements pertaining to the Company's assessment of market conditions. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, many of which are beyond Kelt's control. Although Kelt believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Kelt cannot give any 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. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general (e.g....