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Strategies & Market Trends : Penny Pinchers

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To: sense who wrote (11)	2/26/2012 11:47:27 PM
From: sense	Read Replies (1) of 17

Cougar Oil and Gas Canada Obtains Extension to CCAA and DIP Financing " The Court was of the view that the company has acted diligently and in good faith and as a result, extended the stay period to May 23, 2012." "In addition to the extension of the stay period, the Court approved debtor-in-possession ("DIP") financing from Zentrum Energie Trust AG in the amount of CDN$1.75 million, which the Company will use to fund the LMR deposit requirements of the Energy Resources Conservation Board and ongoing operating costs and other expenses while the Company is under creditor protection." will issue a further press release on or before May 23, 2012 to provide an update regarding the status of the Plan and the CCAA proceedings

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