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Canada : Wrangler West Energy Signs Revolving Operating Demand Loan.

Wrangler West Energy Corp. signed a revolving operating demand loan agreement, effective July 21, 2010. The company signed the agreement with Canadian Western Bank in the amount of $12 million.

The Credit Facility, as approved by Wrangler West's board of directors, is subject to an interim review by the lender scheduled for November 2010 and an annual review in May 2011. The Credit Facility will be used as required for general corporate purposes, ongoing operations, capital expenditures, acquisition of additional petroleum and natural gas assets and payout of any remaining credit facilities amounts outstanding with the Company's previous lender.

Wrangler West is a Canadian junior oil and natural gas producer which explores for and develops crude oil and natural gas production assets in the Province of Alberta. Since inception, our mandate has been to use the drill bit to add shareholder value. Disciplined management of our operations and production portfolio creates sufficient funds flow to support ongoing operations.

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Publication:TendersInfo
Date:Jul 25, 2010
Words:171
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