September 02, 2016 17:41 ET
CALGARY, ALBERTA--(Marketwired - Sept. 2, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.
Questfire Energy Corp. (the "Corporation" or "Questfire") (TSX VENTURE:Q.A)(TSX VENTURE:Q.B) announces that its syndicate of lenders has agreed to defer the semi-annual borrowing base redetermination under the Corporation's credit facilities from August 31, 2016 to September 15, 2016.
This deferral is accompanied by a reduction in the available aggregate borrowing base under such facilities from $45 million to $44.5 million. As of August 31, 2016, the Corporation had drawn approximately $43.5 million thereunder.
Questfire continues to focus on factors under its control, namely reducing controllable costs, maximizing production and exercising capital spending discipline.
About Questfire Energy Corp.
Questfire Energy Corp. is a junior oil and natural gas exploration and production company based in Calgary, Alberta.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Questfire Energy Corp.Mr. Richard DahlPresident and CEO(403) 263-6691(403) 263-6683 (FAX)Questfire Energy Corp.Mr. Ronald WilliamsVice President, Finance and CFO(403) 263-6658(403) 263-6683 (FAX)
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