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PetroShale Inc. announced that the lender to its senior secured revolving credit facility has re-affirmed the current borrowing base capacity at US$22.5 million following its review of the Company's year end independent reserve report.
The Senior Facility is a revolving demand loan provided by a Canadian chartered bank, with a term to June 16, 2017, at which point it will either be renewed for a further 364 day period, or converted to a fixed term facility at the lender's option. The Senior Facility is fully drawn.
The Company's existing US$80.0 million subordinated revolving credit facility is currently drawn as to US$65.5 million.
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