Bronco Energy Ltd.
TSX : BCF

Bronco Energy Ltd.

September 12, 2008 00:56 ET

Bronco Announces Credit Commitment Letter

CALGARY, ALBERTA--(Marketwire - Sept. 12, 2008) - Bronco Energy Ltd. ("Bronco") (TSX:BCF) is pleased to announce that it has signed a commitment letter for a $20 Million Senior Secured Extendible Revolving Credit Facility ("Credit Facility") to provide additional financing for Bronco's general working capital requirements. Establishment of the Credit Facility is subject to the satisfaction of customary closing conditions, including the negotiation, execution and delivery of a definitive credit agreement.

Forward-Looking Information

This document contains forward-looking statements relating to financing. Although we believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. In making such statements, we have made assumptions regarding, among other things, conditions to closing of the credit facility being satisfied.

Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in the prices of oil and natural gas; governmental regulation of the oil and gas industry, including environmental regulation; geological, technical, drilling and processing problems and other difficulties in producing reserves; unanticipated operating events or performance which can reduce production or cause production to be shut in or delayed; failure of the oil processing battery to operate at the expected capacity before and after planned expansion thereof; failure to install pipeline facilities as and when expected; failure to obtain industry partner and other third party consents and approvals, when required; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, drilling, processing and transportation problems; changes in tax laws and incentive programs relating to the oil and gas industry; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors described in our public filings (including our Annual Information Form) available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Contact Information

  • Bronco Energy Ltd.
    Brian Alford
    President and CEO
    (403) 699-8383
    (403) 693-0038 (FAX)
    or
    Bronco Energy Ltd.
    David Johnson
    VP Finance and CFO
    (403) 699-8383
    (403) 693-0038 (FAX)
    Website: www.broncoenergy.ca