Bonterra Energy Corp T.BNE

Alternate Symbol(s): BNEFF

Energy Oil & Gas E&P

Bonterra Energy Corp. is a Canada-based conventional oil and gas company with operations in Alberta, Saskatchewan, and British Columbia. The Company operates through development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. Its operating areas include Pembina Cardium and other areas, which include Saskatchewan and Northeast British Columbia. The Company is focused on the development of the Pembina and Willesden Green Cardium lands within central Alberta. It has Shaunavon properties in the Chambery field, which produce medium density crude oil from the upper Shaunavon formation under waterflood. It also has assets in the Prespatou area of northeast British Columbia, which consists almost entirely of natural gas and associated natural gas liquids. It also has an undeveloped Charlie Lake asset that is prospective for light oil in Bonanza, Alberta. The Company has over 116 net sections of contiguous land in the light oil prone Charlie Lake.

TSX:BNE - Post by User

Bonterra Energy Corp

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Post by energeeon Apr 30, 2020 12:11pm

331 Views

Post# 30971761

Bank line review underway

BNE gets until May 29th to work on their rather large bank debt, which was $273MM at YE 2019 on a $325MM line. In addition to bank debt, they owe $12MM to the CEO/Chairman and a further $7.5MM to a private investor. These last two are subordinate to bank debt and cannot be paid back unless the bank syndicate agrees. The CEO is therefore incentivized to figure this out soon.

With 32% of their corporate boe production being gas (~ 24 mmcfd) that may give them some legs. The oil/NGL production will have some challenges based on strip.

https://www.bonterraenergy.com/investors/news-releases/bonterra-energy-corp-announces-extension-of-bank-line-redetermination-date-corporate-update-and-confirms-new-board-nominees

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