An anonymous director reports

SPYGLASS RESOURCES CORP. ANNOUNCES COMPLETION OF CREDIT FACILITY REVIEW

Following Spyglass Resources Corp.'s semi-annual review by its lenders, its total credit facility, as amended, remains at $200-million. The credit facilities now consist of a $100-million syndicated borrowing base facility and a $100-million syndicated reducing term facility. The syndicated borrowing base facility is reviewed semi-annually, and both facilities currently have a May 29, 2016, maturity date. The reducing term facility is expected to be paid through recapitalization and asset divestiture opportunities and is required to be reduced to $25-million by Jan. 31, 2016. The company expects its interest rate in 2015 to average approximately 7.25 per cent. Management's attention remains on managing the resources of the company through a difficult commodity price environment, reviewing recapitalization opportunities and continuing property dispositions.

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