Amendment of Its Credit Facility

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Clavis

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Amendment of Its Credit Facility

posted on Feb 11, 2009 10:47AM

February 11, 2009

Bronco Announces Amendment of Its Credit Facility

CALGARY, ALBERTA--(Marketwire - Feb. 11, 2009) - Bronco Energy Ltd. ("Bronco" or the "Company") (TSX:BCF) announces that it has agreed to amendments to its $20 Million Credit Facility ("Credit Facility") requested as a result of the matters outlined in its corporate and operational update dated February 5th and the changes in the composition of its board of directors announced yesterday. The amendments confirm that the change in the composition of Bronco's board of directors will not constitute a Change of Control for purposes of the Credit Facility. The amendments also convert the availability of the facility to a demand basis, increase the interest rate applicable to advances to reflect current market rates and restrict further advances under the Credit Facility without prior lender approval.

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