OIL - Perpetual Energy Inc. Announces Expanded Credit Facility

Canada NewsWire

CALGARY, AB , June 8, 2022 /CNW/ - (TSX: PMT) – Perpetual Energy Inc. ("Perpetual" or the "Company") announced today that the semi-annual borrowing base redetermination of the Company's first lien credit facility has been completed and the previous $17.0 million borrowing limit has been increased to $30.0 million with an initial term to May 31, 2023 and which which may be extended for a further twelve months to May 31, 2024 subject to lender approval. If not extended by May 31, 2023 , all outstanding advances would be repayable on May 31, 2024 . The next semi-annual borrow base redetermination is scheduled on or before November 30, 2022 .

Perpetual is an oil and natural gas exploration, production and marketing company headquartered in Calgary, Alberta . Perpetual owns a diversified asset portfolio, including liquids-rich conventional natural gas assets in the deep basin of West Central Alberta, heavy crude oil and shallow conventional natural gas in Eastern Alberta . Additional information on Perpetual can be accessed at www.sedar.com or from the Corporation's website at www.perpetualenergyinc.com .

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

SOURCE Perpetual Energy Inc.

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