Celtic Reports an Increase in Its Bank Credit Facility
Published : April 27, 2012
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Keywords :   Canada | Debt | Market | National Bank | Natural Gas |

CALGARY, ALBERTA--(Marketwire - April 27, 2012) - Celtic Exploration Ltd.'s (News - Market indicators) ("Celtic" or the "Company") banking syndicate, led by National Bank of Canada, has increased the amount of the Company's credit facilities to $335.0 million, up from the previous amount of $275.0 million. In the current environment of low natural gas prices, the increase provides Celtic with significant financial flexibility to execute its 2012 and 2013 capital expenditure programs.

Celtic estimates 2012 year-end bank debt, net of working capital, to be approximately $162.0 million, which provides the Company with approximately $173.0 million of unused and available bank credit at year-end.

ANNUAL GENERAL MEETING OF SHAREHOLDERS

Celtic's Annual General Meeting of Shareholders will be held at 3:00 PM (MST) on Friday, April 27, 2012 at the Metropolitan Conference Centre, 333 - 4th Avenue SW, Calgary, Alberta, in the Grand Lecture Theatre.

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS

This document contains expectations, beliefs, plans, goals, objectives, assumptions, information and statements about future events, conditions, results of operations or performance that constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws. These forward-looking statements include the amount of the Company's estimated year-end bank debt. Undue reliance should not be placed on forward-looking statements. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements. We caution that the foregoing list of risks and uncertainties is not exhaustive. Events or circumstances could cause actual dates to differ materially from those estimated or projected and expressed in, or implied by, these forward-looking statements. The forward- looking statements contained in this document are made as of the date hereof and the Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.



Celtic Exploration Ltd.
Suite 600, 321 - 6th Avenue SW
Calgary, Alberta, Canada T2P 3H3
or
Celtic Exploration Ltd.
David J. Wilson
President and Chief Executive Officer
(403) 201-5340
or
Celtic Exploration Ltd.
Sadiq H. Lalani
Vice President, Finance and Chief Financial Officer
(403) 215-5310
www.celticex.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Celtic Exploration Ltd.

CODE : CLT.TO
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Celtic Expl. is a exploration company based in Canada.

Celtic Expl. is listed in Canada. Its market capitalisation is CA$ 2.9 billions as of today (US$ 2.8 billions, € 2.1 billions).

Its stock quote reached its lowest recent point on June 10, 2005 at CA$ 10.00, and its highest recent level on February 28, 2013 at CA$ 27.06.

Celtic Expl. has 105 827 000 shares outstanding.

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Financings of Celtic Exploration Ltd.
3/15/2011Announces $101.5 Million Bought Deal Equity Financing
Financials of Celtic Exploration Ltd.
11/9/2012Reports Financial and Operating Results for the Three and Ni...
8/10/2012Reports Financial and Operating Results for the Three and Si...
5/10/2012Reports Financial and Operating Results for the Three Months...
3/8/2012Reports Financial Results for the Year Ended December 31, 20...
8/12/2011Reports Financial and Operating Results for the Three and Si...
6/7/2011Reports Financial and Operating Results for the Three Months...
Project news of Celtic Exploration Ltd.
2/13/2012More Than Doubles its Oil and Gas Reserves at December 31, 2...
1/10/2012Achieves Record Production as at the End of 2011
5/16/2011Announces Production Disruptions Due to Gas Plant Outages
Corporate news of Celtic Exploration Ltd.
2/21/2013Announces Investment Canada Approval of Proposed Acquisition...
1/31/2013Provides Update on Investment Canada Review With Respect to ...
10/17/2012Exxon Mobil to Acquire Celtic Exploration
9/10/2012Provides Operations Update
9/10/2012- Peters & Co. Limited 2012 Energy Conference Webcast - ...
8/7/2012to Hold Conference Call on Second Quarter 2012 Results on Fr...
7/9/2012Announces Enhanced Natural Gas Liquids Recovery Arrangement ...
5/9/2012to Hold Conference Call on First Quarter 2012 Results on Thu...
4/27/2012Reports an Increase in Its Bank Credit Facility
4/16/2012Closes Over-Allotment Option
4/12/2012Closes $150 Million Convertible Debenture Financing
3/22/2012Announces Increase to Previously Announced Offering of Conve...
3/22/2012Announces C$125 Million Public Offering of Convertible Deben...
3/8/2012Provides an Operations Update
11/30/2011Completes Acquisition Of Assets at Grande Cache
10/25/2011Closes Over-Allotment Option
10/7/2011Closes $150 Million Bought Deal Equity Financing
9/19/2011Increases Bought Deal Equity Financing to $150.0 Million
9/19/2011Announces $125.0 Million Bought Deal Equity Financing and Pr...
9/13/2011Provides Operations Update
4/26/2011Closes Over-Allotment Option
4/11/2011Provides Operations and 2011 Guidance Update
3/31/2011Closes $101.5 Million Bought Deal Equity Financing
3/16/2011Announces Gas Plant Outage at Kaybob
3/7/2011Provides Drilling and Operations Update
3/7/2011Reports Financial Results for the Year Ended December 31, 20...
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TORONTO (CLT.TO)
27.06+0.00%
TORONTO
CA$ 27.06
02/28 17:00 -
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