| Home : September 2010 : September 21, 2010 News : Emerge Announces Increase in Revolving Operating Credit Facility Borrowing Base |
Emerge Announces Increase in Revolving Operating Credit Facility Borrowing Base |
September 21, 2010
CALGARY, ALBERTA--(Marketwire - Sept. 20, 2010) - Emerge Oil & Gas Inc. ("Emerge" or the "Company") (TSX:EME) is pleased to announce that the Company's borrowing base under its revolving operating credit facility with its lender has been increased to $50.0 million (from $42.5 million previously) under substantially the same terms and conditions. The increase resulted from our lender's interim review and incorporates production and reserve additions since our last review in May 2010. Combined with the Company's non-revolving acquisition/development credit facility of $10.0 million ($10.0 million previously), Emerge now has $60.0 million of total credit facilities with its lender, the National Bank of Canada.
http://www.marketwire.com/mw/release.do?id=1322007&sourceType=3
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