Gordon Creek Energy Inc. provide an update regarding its ongoing efforts to secure a long term financing solution for the development of the Gordon Creek natural gas field. The Company is continuing to work with Houston Merchant Advisory Partners (HMEP) as a strategic advisor to assist with the evaluation and sourcing of various financing alternatives as announced August 22, 2014. Follow up discussions are ongoing with a number of interested parties introduced by HMEP to date, and marketing efforts are continuing.
The Company is also at an advanced stage of negotiations to secure a $2.5 to $3.0 million bridge loan facility that will be focused on re-working and re-activating up to 14 previously drilled development wells in order to increase cash flows and reserves. Further details of the bridge loan facility will be provided upon the completion of negotiations.