Exall Pipeline Construction Will Boost Production

摘要

Exall Energy Corporation reports that pipeline approvals have been received and construction has commenced on an 11 kilometre pipeline that will allow unrestricted production from the Marten Mountain 102/14-1 well that was granted Good Production Practice (GPP) status in June 2009.The pipeline and battery facilities are expected to be completed by mid November.Exall has entered into a non-revolving bridge loan facility with an arm's length lender to fund the construction of the pipeline and battery. The loan facility has a maturity of May 31, 2010, bears interest at 12.5% per annum, is subordinate to the company's bank debt and will allow the company to draw up to $2 million.