July 19, 2016 / 9:57 PM / a year ago

BRIEF-Touchstone provides credit facility update

July 19 (Reuters) - Touchstone Exploration Inc :

* Company and its lender executed an amendment and limited waiver to credit agreement

* Touchstone exploration inc says currently there is no balance drawn on credit facility

* In event that prepayment occurs or east brighton letter of credit is cancelled, borrowing base to be reduced by an equal amount

* Touchstone provides credit facility update

* Amendment cured company’s june 2016 monthly production covenant breach

* Amendment extended prepayment due on july 15, 2016 to august 31, 2016 if east brighton letter of credit remain outstanding

* Upon anticipated closing of east brighton disposition, co, lender to assess credit facility to include base redetermination Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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