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An announcement from XXL Energy ( (TSE:XL) ) is now available.
XXL Energy Corp. has announced an amendment to its business loan agreement with Jonah Bank of Wyoming, increasing the maximum credit amount from US$2,300,000 to US$4,000,000. The amendment also includes a change in the variable interest rate calculation, resulting in a higher effective interest rate, and extends the loan maturity date to September 26, 2027. The loan is secured by Standard Energy, which is wholly owned by John R. Hislop, a director and officer of XXL Energy. This financial maneuver is likely to impact the company’s operational flexibility and financial strategy.
More about XXL Energy
XXL Energy Corp. is an independent oil and gas exploration and development company with operations focused in the Greater Green River Basin of Wyoming, the Piceance Basin of Colorado, and Pinedale Field of Wyoming.
Average Trading Volume: 2,563
Technical Sentiment Signal: Sell
Current Market Cap: C$1.4M
Find detailed analytics on XL stock on TipRanks’ Stock Analysis page.