15:56:51 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Lynden Energy Corp
Symbol LVL
Shares Issued 130,198,411
Close 2014-11-28 C$ 0.63
Market Cap C$ 82,024,999
Recent Sedar Documents

Lynden USA raises borrowing base to $40-million (U.S.)

2014-12-01 08:15 ET - News Release

Mr. Colin Watt reports

LYNDEN ENERGY CORP.: CREDIT FACILITY BORROWING BASE INCREASED

Lynden Energy Corp.'s wholly owned subsidiary, Lynden USA Inc., has secured an increase in its borrowing base, from $32-million (U.S.) to $40-million (U.S.), under its reducing revolving line of credit led by Texas Capital Bank of Dallas, Tex.

The borrowing base increase is part of a periodic review of the company's oil and gas assets that secure the credit facility, and is directly related to the growth and value of those assets. There is currently $26.3-million (U.S.) drawn on the credit facility.

The expanded borrowing base, together with current working capital and anticipated cash flow from operations, will allow the company to be opportunistic in the current market environment, and ensures that the company can carry out its previously reported fiscal 2015 (July 1, 2014, to June 30, 2015) capital plan.

We seek Safe Harbor.

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