ENP Newswire -
Release date- 17072014 -
Proceeds to Perpetual include
In combination, in exchange for the total acquisition and funding commitment of
NGL yields are expected to average approximately 23 bbl/MMcf for the duration of the East Edson JV. Upon closing,
The capital injected by the East Edson JV is expected to increase the operating cash flow from the
Perpetual is also pleased to announce that it intends to issue
The Notes are being offered in each Province of
The net proceeds from this offering will be used for general corporate purposes and to redeem with cash Perpetual's
This offering not only provides Perpetual with the ability to repay these debentures earlier than their maturity on
Perpetual's lenders under its credit facility have approved issuance of the Notes, subject to an adjustment to the borrowing base from
Pro forma the Notes issuance and subsequent repayment of the 7.25% convertible debenture series, Perpetual expects to have net bank debt outstanding of approximately
Certain information regarding Perpetual in this news release including management's assessment of future plans and operations may constitute forward-looking statements under applicable securities laws. The forward looking information includes, without limitation, completion of the offering and the use of proceeds and potential benefits to be derived therefrom.
Various assumptions were used in drawing the conclusions or making the forecasts and projections contained in the forward-looking information contained in this press release, which assumptions are based on management analysis of historical trends, experience, current conditions and expected future developments pertaining to Perpetual and the industry in which it operates as well as certain assumptions regarding the matters outlined above.
Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Perpetual and described in the forward-looking information contained in this press release.
Undue reliance should not be placed on forward-looking information, which is not a guarantee of performance and is subject to a number of risks or uncertainties, including without limitation those described under 'Risk Factors' in Perpetual's MD&A for the year-ended
Readers are cautioned that the foregoing list of risk factors is not exhaustive. Forward-looking information is based on the estimates and opinions of Perpetual's management at the time the information is released and Perpetual disclaims any intent or obligation to update publicly any such forward-looking information, whether as a result of new information, future events or otherwise, other than as expressly required by applicable securities law.
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Tel: (403) 269-4400
Toll free: 1-800-811-5522
Fax: (403) 269-4444
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