GRANDE PRAIRIE, AB, Feb. 1 /CNW/ - Bonnett's Energy Services Trust (TSX:BT.UN) ("Bonnett's", or the "Trust") is pleased to announce that it has signed an agreement with its banking syndicate to extend the expiration of its credit facilities to January 31, 2011.
The facilities include a $2.0M committed revolving operating facility in addition to its current committed non-revolving term facilities totaling $35.6M. Pricing is at prime plus 3.5% and prime plus 4.0% on the operating and term facilities respectively.
Bonnett's Energy Services is a diversified Trust, providing wireline and testing services, and oilfield rentals in the Western Canadian Sedimentary Basin.
Disclosure Regarding Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Trust, are intended to identify forward-looking statements. Such statements reflect the Trust's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Trust's actual results, performance or achievements to vary from those anticipated in this news release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, estimated or expected. Except where required by law, the Trust does not assume any obligation to update these forward-looking statements if conditions or opinions should change. Readers should not place undue reliance on forward-looking statements.
SOURCE BONNETT'S ENERGY SERVICES TRUST
For further information: For further information: Additional information can be obtained by contacting the Trust at Bonnett's Energy Services Ltd., R.R. 2, Site 33, Box 1, Grande Prairie, Alberta, T8V 2Z9. Information is also available at the Trust's website at www.bonnettsenergy.com; Murray Toews, Chief Executive Officer at (780) 513-3400 or David Ross, Chief Financial Officer at (403) 264-3010, Fax: (780) 532-4811, E-mail: firstname.lastname@example.org