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Pine Cliff Energy amends C$45.0M credit facility

Pine Cliff Energy Ltd. said June 1 that it entered into an agreement with a syndicate of Canadian financial institutions to extend the borrowing base redetermination for its C$45.0 million credit facility to July 15.

Until then, the amounts permitted under the facility will not exceed C$20.0 million.

As of May 31, the company has drawn C$12.2 million under the syndicated facility.