BRIEF-Bengal Energy renews and extends credit facility

Thu Aug 25, 2016 7:14am EDT
 
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Aug 25 (Reuters) - Bengal Energy Ltd

* Bengal Energy announces credit facility renewal and extension

* Revised facility has been extended to December 31, 2018 and provides a borrowing base of US$15 million of which US$12.5 million is currently drawn.

* Bengal will initiate a program to hedge approximately 134,000 barrels of crude oil from July 2017 to December 2018.

* Revised borrowing base provides about CDN$6.5 million of working capital to finance ongoing 2016 drilling campaign Source text for Eikon: Further company coverage: