Gordon Creek Energy Inc.

Gordon Creek Energy Inc.

November 06, 2015 19:06 ET

Gordon Creek Energy: Debenture Update

CALGARY, ALBERTA--(Marketwired - Nov. 6, 2015) - Gordon Creek Energy Inc. (TSX VENTURE:GDN) (the "Company") today announced that it is continuing its efforts to re-finance its existing indebtedness, including the outstanding CAD$10 million series of 15% Gas Linked Debentures that was due October 31, 2015. The Company is also looking to secure additional development financing in order to continue the development of its proved and probable acreage at its Gordon Creek, Utah natural gas field. The Company has not yet been successful in securing the necessary financing, but is involved in continuing active discussions with interested parties.

The Company is also nearing completion of its fall work-over program, as most recently discussed in a news release dated August 25, 2015. Results continue to be encouraging. The Company has also just completed a series of upgrades to its water disposal system that will allow for the increase demand from the enhanced wells.

Gordon Creek Energy Inc. is an oil and gas exploration and production Company with interests in the US Rockies.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward- looking information

Information in this news release, including information respecting the Company's financing and capitalization plans, potential reserves and cash flows, constitute forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements unless required by applicable securities legislation. Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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