BRIEF-Terra Energy says its lender Canadian Western Bank demands $15.9 mln payment by Mar. 28

Fri Mar 18, 2016 7:42am EDT
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March 18 (Reuters) - Terra Energy Corp

* Lender, canadian western bank has made demand upon terra and subsidiaries, for payment of approximately $15.9 million by march 28, 2016

* Says has terminated employment of most of its employees with exception of personnel engaged in shutting-in

* In addition, cwb has provided terra with notice of intention to enforce security pursuant to bankruptcy and insolvency act

* Undertaken a process of shutting-in all operated/licensed wells and facilities in order to secure and enhance safety of its operations Source text for Eikon: Further company coverage: (Bengaluru Newsroom +1-646-223-8780)