May 15, 2020 / 3:12 PM / 21 days ago

BRIEF-Cwx Global Updates On Impact Of Covid-19 On Co's Ops

May 15 (Reuters) - CWX Global Ltd:

* PLANS FOR NEW DRILLING CAMPAIGN & WELL WORKOVERS TO INCREASE PRODUCTION OF OIL BEEN DELAYED TILL LATER PART OF 2020

* EXPECTS TO RECORD MUCH LOWER REVENUE FOR CURRENT FY ENDING 30 JUNE 2020

* SHARP FALL IN OIL PRICE RESULTED IN SIGNIFICANT DECREASE IN BOTH REVENUE & CASHFLOW OF GROUP

* CURRENTLY IN TALKS WITH ITS PRINCIPAL BANK TO EXTEND TENOR OF BANK FACILITY WHICH WILL MATURE IN END JULY 2020

* ALSO IN TALKS WITH POTENTIAL INVESTORS TO INJECT NEW BUSINESSES AND EQUITY INTO GROUP Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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