Petrus Resources Ltd. is pleased to announce that it has entered into a definitive agreement to acquire a privately owned limited partnership and its general partner for total consideration of approximately $14.4 million, consisting of 10 million common shares of the Company issued at a deemed price of $1.44 per Share based on the volume weighted average trading price of the Shares on the Toronto Stock Exchange for the [...]
Petrus Resources Ltd. is pleased to provide information on the results of the Company's recently drilled operated well in North Ferrier as well as an operational update. NORTH FERRIER Petrus began execution of its Q4 2021 drilling program in November, which included drilling the Company's first operated well in North Ferrier. The well was drilled, completed and tested in early December before being tied-in and brought on [...]
Petrus Resources Ltd. is pleased to announce it has been named to the 2022 OTCQX? Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous [...]
Petrus Resources Ltd. is pleased to announce its Board of Directors has approved a 2022 capital budget of $50 to $55 million, which is expected to deliver average annual production in the range of 7,000 to 7,500 boe per day, a forecasted increase of approximately 25% compared to 2021 estimates. The majority of the forecasted production growth is expected to be realized in the second half of 2022 leading to estimated exit [...]
Petrus Resources Ltd. is pleased to report financial and operating results as at and for the three and nine months ended September 30, 2021. Petrus is focused on generating free cash flow to support further development of its Ferrier Cardium assets to benefit all stakeholders. HIGHLIGHTS Transformative debt reduction - During the quarter Petrus executed certain transactions, transforming its debt situation as follows [...]
Petrus Resources Ltd. is pleased to announce the Company has received confirmation from the Toronto Stock Exchange that the TSX has completed its review of the Company and determined the Company satisfies the TSX's applicable requirements for continued listing. This completes the listing review initiated in connection with Petrus' recently completed private placement and the full settlement of its second lien loan as [...]
Petrus Resources Ltd. is pleased to announce that it has completed the previously announced transactions that will significantly reduce the Company's total debt and also extend the maturity date of the Company's senior secured credit facility . Pursuant to the Transactions, the Company's subordinated secured term loan , in the principal amount of approximately $39.3 million, has been settled in full in consideration for [...]
Petrus Resources Ltd. is pleased to announce that, further to its news release dated August 30, 2021 with respect to its intention to complete a series of transactions that will reduce the Company's total debt by approximately $49 million through the issuance of $25.8 million of Petrus shares at $0.55 per share and extend the maturity date of the Company's senior secured credit facility , the Toronto Stock Exchange has [...]
Petrus Resources Ltd. is pleased to announce that it has entered into a series of agreements that will reduce the Company's total debt by approximately $49 million through the issuance of $25.8 million of Petrus shares at $0.55 per share, and extend the maturity date of the Company's senior secured credit facility . The Transactions will also result in the full settlement of the Company's subordinated secured term loan in [...]
Petrus Resources Ltd. announces its syndicate of lenders has extended the borrowing base termination date on its senior revolving credit facility agreement from August 20, 2021 to August 27, 2021. The Company's second lien term loan provider has also agreed to extend the maturity date of the Company's second lien term loan from October 21, 2021 to October 28, 2021. The Company continues to be in discussions with the bank [...]
Petrus Resources Ltd. announces its syndicate of lenders has extended the borrowing base termination date on its senior revolving credit facility agreement from August 13, 2021 to August 20, 2021. The Company's second lien term loan provider has also agreed to extend the maturity date of the Company's second lien term loan from October 14, 2021 to October 21, 2021. The Company continues to be in discussions with the bank [...]
Petrus Resources Ltd. is pleased to report financial and operating results as at and for the three and six months ended June 30, 2021. Petrus is focused on generating free cash flow for debt repayment and further development of its Ferrier Cardium asset. Throughout the second quarter of 2021, global economies continued to show promise of a post-pandemic recovery. Increased demand for oil and natural gas persisted, which [...]
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