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BNK PETROLEUM INC. ANNOUNCES INCREASE IN AVAILABLE CREDIT UNDER RESERVE BASED FACILITY
BNK PETROLEUM INC. ANNOUNCES INCREASE IN AVAILABLE CREDIT UNDER RESERVE BASED FACILITY
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\n Nov. 10, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCAMARILLO, CA, Nov. 10 /CNW/ - BNK Petroleum Inc. (the "Company") (TSX: BKX) announced today that BNK Petroleum (US) Inc.'s Credit\n Facility has been amended to increase the amount of credit available\n under the borrowing base to $23.8 million from $20 million. The Bank of\n Oklahoma N.A. is providing this additional credit line of $3.8 million.\n As previously announced on October 25, 2010, Amegy Bank of Texas and\n its affiliate Vectra Bank Colorado advanced the Company $20 million\n against its $20 million credit line. The Company has no current plans\n to utilize this additional $3.8 million in available credit. BNK\n Petroleum (US) Inc. is the Company's indirect wholly-owned subsidiary\n which holds its US oil and gas interests.     \n\n\nCaution Regarding Forward-Looking Information\n\n\nCertain statements contained in this news release constitute\n "forward-looking information" as such term is used in applicable\n Canadian securities laws, including information regarding the Company's\n current plans to not use the additional available\n credit. Forward-looking information is based on plans and estimates of\n management at the date the information is provided and certain factors\n and assumptions of management, including that the Company's financial\n condition and development plans will not change. Forward-looking\n information is subject to a ...