Bengal Energy Ltd.

Recent News

  • Bengal Energy Announces Closing of Private Placement and Debt Settlement

    Calgary, Alberta--(Newsfile Corp. - February 26, 2021) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement ("Private Placement") of common shares in the capital of the Company ("Common Shares") to Texada Capital Management Ltd. ("Texada"). Bengal is also pleased to announce the closing of the transactions contemplated by the debt settlement agreement (the "Debt Settlement") with its senior secured lender Westpac Banking Corporation ("Westpac") in respect...

    2021-02-26 7:00 AM ET
  • Bengal Energy Provides Update on Debt Settlement and Equity Financing

    Calgary, Alberta--(Newsfile Corp. - February 19, 2021) -  Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to provide an update with respect to its previously announced debt settlement transaction (the "Debt Settlement") and concurrent private placement. Bengal has now received formal written notification from the Australian Foreign Investment Review Board that it will not object to the Private Placement. As previously announced, the Toronto Stock Exchange (the "TSX") has conditionally approved the Private Placement,...

    2021-02-19 7:00 AM ET
  • Bengal Energy Announces Fiscal 2021 Third Quarter Results and Subsequent Event Notice

    Calgary, Alberta--(Newsfile Corp. - February 12, 2021) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") today announces its financial results for the third quarter of fiscal 2021 ended December 31, 2020.Subsequent Event Notice As previously announced, Bengal has reached an agreement with its senior secured lender Westpac Banking Corporation ("Westpac") to settle all principal amounts outstanding under the credit facility (the "Credit Facility") and extinguish the debt owing to Westpac (the "Debt Settlement"). To facilitate the Debt Settlement,...

    2021-02-12 7:25 AM ET
  • Bengal Energy Announces Reliance on Financial Hardship Exemption in Connection with Private Placement and Debt Settlement

    Calgary, Alberta--(Newsfile Corp. - February 1, 2021) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to announce further details with respect to its previously announced non-brokered private placement ("Private Placement") of common shares in the capital of the Company ("Common Shares") to Texada Capital Management Ltd. ("Texada"). Further to the Company's press release of Monday January 25, 2021, Bengal has entered into a subscription agreement with Texada whereby Texada has agreed to subscribe for Common Shares...

    2021-02-01 6:00 AM ET
  • Bengal Energy Announces Debt Settlement and Equity Financing

    Calgary, Alberta--(Newsfile Corp. - January 25, 2021) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to announce the execution of a binding agreement (the "Debt Settlement Agreement") with its senior secured lender Westpac Banking Corporation ("Westpac") in respect of the settlement all indebtedness and liabilities owing by Bengal's wholly owned subsidiary Bengal Energy (Australia) Pty Ltd. ("Bengal Pty") to Westpac under its secured credit facility (the "Facility"). Bengal is also pleased to announce that it has...

    2021-01-25 7:00 AM ET
  • Bengal Energy Announces Operations Update

    Calgary, Alberta--(Newsfile Corp. - January 19, 2021) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to provide an update on ongoing operational matters.Water Injection Pilot - The Cuisinier pilot project is scheduled to commence active water injection in late January 2021. This program is designed to begin increasing pressure in the pool and thereby increase the expected oil recovery in both productivity and reserves. As injected volumes ramp up the project is expected to benefit from...

    2021-01-19 10:36 PM ET
  • Bengal Energy Announces Fiscal 2021 Second Quarter Results

    Calgary, Alberta--(Newsfile Corp. - November 24, 2020) -  Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") today announces its financial results for the second quarter of fiscal 2021 ended September 30, 2020.SECOND QUARTER FISCAL 2021 SUMMARY: The following is an overview of the financial and operational results during the three month period ended September 30, 2020: Financial Summary: Sales Revenue - Crude oil sales revenue was $1.3 million in the second quarter of fiscal 2021, which is 47% lower...

    2020-11-24 3:35 PM ET
  • Bengal Energy Announces Credit Facility Amendment

    Calgary, Alberta--(Newsfile Corp. - October 9, 2020) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to announce that on September 30,2020 Westpac Institutional Bank and the Company executed an agreement to extend the maturity date of the Company's bank debt of US$ 12.4 million to February 28, 2021. The Company will continue to discuss with its lender a long term solution to recapitalize its credit facility."About Bengal Bengal Energy Ltd. is an international junior oil...

    2020-10-09 4:02 PM ET