Cardinal Energy Ltd. Announces Extension of Revolving Credit Facility

CALGARY, Alberta, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal") (TSX: CJ) has received approval to extend the revolving period applicable to the Company's existing reserves-based credit facility to November 30, 2020.

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Retrieved on: 
Friday, October 30, 2020
Information
Tags: 
Greenhouse gas emissions, Provinces and territories of Canada, Carbon footprint, Environmental impact of the energy industry, Calgary, Alberta
Geotags: 
Calgary, AB
Organisation: 
CARDINAL ENERGY LTD.
Summary
Key Points: 
  • CALGARY, Alberta, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal") (TSX: CJ) has received approval to extend the revolving period applicable to the Company's existing reserves-based credit facility to November 30, 2020.
  • The credit facility continues to be available, on a revolving basis, until that date.
  • As part of this mandate, Cardinal injects and conserves more carbon than it directly emits making us one of the few Canadian energy companies to have a negative carbon footprint.
  • Cardinal is a Canadian oil focused company with operations focused on low decline light and medium quality oil in Western Canada.


CALGARY, Alberta, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal") (TSX: CJ) has received approval to extend the revolving period applicable to the Company's existing reserves-based credit facility to November 30, 2020. The credit facility continues to be available, on a revolving basis, until that date. In connection therewith, the date for the re-determination of the borrowing base has also been extended to November 30, 2020.

About Cardinal Energy Ltd.

One of Cardinal's goals is to continually improve our Environmental, Safety and Governance mandate and operate our assets in a responsible and environmentally sensitive manner. As part of this mandate, Cardinal injects and conserves more carbon than it directly emits making us one of the few Canadian energy companies to have a negative carbon footprint.

Cardinal is a Canadian oil focused company with operations focused on low decline light and medium quality oil in Western Canada.

For further information:
M. Scott Ratushny, CEO or Shawn Van Spankeren, CFO or Laurence Broos, VP Finance
Email: [email protected]
Phone: (403) 234-8681
Website: www.cardinalenergy.ca

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