Surge Energy gets commitments to lift bank facility to C$350 million

By Wendy Van Sickle

Columbus, Ohio, May 8 – Surge Energy Inc. received commitments from its banking syndicate to increase its bank line to C$350 million from C$305 million, according to a Tuesday press release.

The increase is pending formal approval and is expected to close by May 31.

The additional funds will provide the company with more than C$125 million of pro-forma liquidity on its bank line as of March 31.

Surge Energy is a Toronto-based junior/intermediate oil and gas company.

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