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Pine Cliff Energy has pushed back the redetermination of its borrowing base with its syndicate of lenders to July 15, 2018.
The company's borrowing base is currently set at $45 million. Until that date, Pine Cliff and the Lenders have agreed that amounts permitted under the Credit Facility will not exceed $20.0 million.
At May 31, 2018, Pine Cliff has $12.2 million drawn pursuant to the Credit Facility.
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Redetermination/Borrowing base
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