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| DBLE > SEC Filings for DBLE > Form 8-K on 22-Jul-2009 | All Recent SEC Filings |
22-Jul-2009
Entry into a Material Definitive Agreement, Creation of a Direct Financ
On July 22, 2009, Double Eagle Petroleum Co. (the "Company") signed the First Amendment to the Credit Agreement (the "Amendment") which amended the original Credit Agreement entered into by the Company on February 26, 2009 with various lenders, including Bank of Oklahoma N.A. as administrative agent. The Amendment provides for (i) the termination of the term loan provided for under the Credit Agreement, (ii) an increase in the borrowing base available under a revolving loan from $40 million up to $45 million and (iii) the addition of a funded debt (which generally includes outstanding debt and capital lease obligations? to EBITDAX Ratio covenant. As a result of the Amendment, the $3.5 million outstanding under the term loan was rolled into the revolving loan and is no longer due July 31, 2009.
The foregoing description does not purport to describe all material terms of the Amendment. For additional terms and conditions, please see the Amendment attached as Exhibit 10.1, incorporated herein by reference.
To the extent applicable, the information set forth above in Item 1.01 is hereby incorporated by reference into this Item 2.03.
On July 22, 2009, the Company issued a press release announcing that it had signed the First Amendment to the Credit Agreement. The press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference into this Item 7.01.
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Exhibits
Exhibit 10.1 First Amendment to Credit Agreement dated July 22, 2009 between Double Eagle Petroleum Co. and Bank of Oklahoma, N.A. et.al
Exhibit 99.1 Press release dated July 22, 2009
In accordance with General Instruction B.2 of Form 8-K, the information in this
Section 9.01 of this Current Report on Form 8-K shall not be deemed "filed" for
the purpose of Section 18 of the Securities Exchange Act of 1934, nor shall it
be deemed incorporated by reference in any filing.
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