BlackWatch Energy Services Corp.
TSX : BWT

BlackWatch Energy Services Corp.

June 02, 2009 18:38 ET

BlackWatch Energy Services Corp. Announces Extension of Credit Facilities

CALGARY, ALBERTA--(Marketwire - June 2, 2009) - BlackWatch Energy Services Corp. ("BlackWatch") (TSX:BWT) is pleased to announce that the lenders under BlackWatch's senior secured credit facility, led by the Bank of Nova Scotia, as well as the related party lender under its subordinated loan facility, have agreed to extend the maturity of both the senior and subordinated facility to June 30, 2009. This extension has been implemented to allow BlackWatch additional time to further its ongoing negotiations with its senior and subordinated lenders respecting a longer term extension of the loan facilities.

ABOUT BLACKWATCH ENERGY SERVICES CORP.

BlackWatch is a corporation that provides a range of services to its customers operating in the western Canadian sedimentary basin including drilling, wireline services, production services and oilfield equipment rentals.

This press release may contain forward-looking statements subject to various risk factors and uncertainties, which may cause the actual results, performance or achievements of BlackWatch to be materially different from results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to fluctuations in the market for oil and gas and related products and services, political and economic conditions, the demand for BlackWatch's services, competition and BlackWatch's ability to attract and retain customers and employees.

Contact Information

  • BlackWatch Energy Services Corp.
    Travis Robertson
    President and Chief Executive Officer
    (403) 225-3879
    (403) 366-2066 (FAX)
    or
    BlackWatch Energy Services Corp.
    Wiley Auch
    Vice President, Finance & CFO
    (403) 225-3879
    (403) 366-2066 (FAX)
    or
    BlackWatch Energy Services Corp.
    300, 855 - 8 Avenue SW
    Calgary, Alberta T2P 3P1
    Website: www.blackwatchenergy.ca