Connacher Extends May 31, 2014 Credit Facility Renewal Date and Obtains Senior
Lender Consent to Covenant Waiver
CALGARY, May 5, 2014 /CNW/ - On May 2, 2014 Connacher Oil and Gas Limited (CLL
- TSX; "Connacher" or the "Company") received unanimous consent from the
lenders under the Amended and Restated Senior Secured Revolving Credit
Facility (the "Credit Facility") to extend the maturity date from May 31, 2014
to July 31, 2014 and to waive the requirement to comply with Total
Consolidated Debt to Total Capitalization Ratio covenant under Credit Facility
at March 31, 2014 and June 30, 2014.
Connacher is a Calgary-based in-situ oil sands developer, producer and
marketer of bitumen. The Company holds a 100 per cent interest in
approximately 500 million barrels of proved and probable bitumen reserves and
operates two steam assisted gravity drainage facilities located on the
Company's Great Divide oil sands leases near Fort McMurray, Alberta.
SOURCE Connacher Oil and Gas Limited
Chris Bloomer Chief Executive Officer
Greg Pollard Chief Financial Officer Connacher Oil and Gas Limited Phone:
(403) 538-6201 Fax: (403) 538-6225 Suite 900, 332 - 6th Avenue SW Calgary,
Alberta T2P 0B2 firstname.lastname@example.org www.connacheroil.com
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CO: Connacher Oil and Gas Limited
-0- May/05/2014 11:00 GMT
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