28 Jan 2016
ROCK ENERGY INC. (RE) ANNOUNCES CANCELLATION OF CREDIT FACILITY AGREEMENT WITH ATB
Impact: Slightly negative. The credit facility with ATB provided for $10 mm of additional liquidity relative to Rock's existing facility. We estimate that Rock will remain below the $65 mm available on its current facility through 2016e (on strip pricing). Recall, the Company is currently engaged in a strategic alternatives process, which was announced December 15, 2015.
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ROCK ENERGY INC. (RE) ANNOUNCES CANCELLATION OF CREDIT FACILITY AGREEMENT WITH ATB
R.E.A. Holdings plc (RE:LON) | 66.2 0 0.0% | Mkt Cap: 29.0m
- Published:
28 Jan 2016 -
Author:
Robert Fitzmartyn -
Pages:
2
Impact: Slightly negative. The credit facility with ATB provided for $10 mm of additional liquidity relative to Rock's existing facility. We estimate that Rock will remain below the $65 mm available on its current facility through 2016e (on strip pricing). Recall, the Company is currently engaged in a strategic alternatives process, which was announced December 15, 2015.