Bow Valley Energy Ltd. announces it has received from its bank lending group conditional extensions to April 30, 2009 for its senior and subordinated acquisition facilities.
In respect of the senior facility, the date for the scheduled redetermination at February 15, 2009 has been waived to April 30, 2009 and the US $10 million fixed minimum repayment remains extended to June 30, 2009. The due date of the (pnds stlg)17.5 million acquisition facility has also been extended to April 30, 2009. The extensions are provided to permit the strategic review process to draw to a logical conclusion early in April. The waivers are conditional that there is no material change in respect of the Company.