Kolibri Global Energy Inc. Announces Bank Line Redetermination
Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, NASDAQ: KGEI) is pleased to announce the Borrowing Base of its indirect wholly owned subsidiary BNK Petroleum (US) Inc. (“BNK US”) was reaffirmed at US$40 million on its revolving line of credit (“Credit Facility”) from BOK Financial (“BOKF”).
- Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, NASDAQ: KGEI) is pleased to announce the Borrowing Base of its indirect wholly owned subsidiary BNK Petroleum (US) Inc. (“BNK US”) was reaffirmed at US$40 million on its revolving line of credit (“Credit Facility”) from BOK Financial (“BOKF”).
- The current outstanding amount drawn on the Credit Facility is US$29 million.
- The amendments also reduced the minimum term of the hedging contracts the Company is required to put in place from 24 months to 18 months.
- Wolf Regener, President and CEO, commented, “We are very pleased to have BOKF’s continued support as we continue to accelerate the development of our Tishomingo project.