Coelacanth Energy Kickstarts Drilling with $52M Credit

Coelacanth Energy, Inc. (TSE:CEI) has released an update.

Coelacanth Energy Inc. has launched a significant development with a $52 million bank credit facility and a new drilling program at Two Rivers East. The project includes drilling and completing multiple wells, with anticipated benefits such as accelerated company growth and increased production certainty. The company is also constructing a new facility, which is expected to enhance operational flexibility and financial stability by April 2025.

For further insights into TSE:CEI stock, check out TipRanks’ Stock Analysis page.