CALGARY, AB, June 6, 2024 /CNW/ - (TSX: RBY) – Rubellite Energy Inc. ("Rubellite" or the "Company"), a pure play Clearwater oil exploration and development company, is pleased to announce that the annual borrowing base redetermination of the Company's credit facility has been completed. The borrowing base has been increased to $60 million, until the next scheduled semi-annual borrowing base redetermination, an increase from $52.0 million and which was previously scheduled to reduce, by $5.0 million at the end of each quarter, to $40.0 million at December 31, 2024. Additionally, the applicable margin applied to borrowings under the credit facility will fall by 1.5%.
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