British
Columbia, Canada
|
001-32628
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06-1762942
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
|
(1)
|
Minimum
quarterly EDITDA (as defined in the Credit Agreement) of $12,750,000
for
the quarter ending March 31, 2008, $16,600,000 for the quarter
ending June
30, 2008, $20,400,000 for the quarter ending September 30, 2008,
$23,300,000 for the quarter ending December 31, 2008,
$28,300,000 for the quarter ending March 31, 2009, $32,300,000
for the
quarter ending June 30, 2009, and $37,300,000 for the quarter ending
September 30, 2009 and for each quarter ending
thereafter;
|
(2)
|
Minimum
average daily production for any quarterly period of 16,800 for
the
quarter ending March 31, 2008, 23,100 for the quarter ending June
30,
2008, 28,500 for the quarter ending September 30, 2008, 30,200
for the
quarter ending December 31, 2008, 29,400 for the quarter ending
March 31, 2009, 34,600 for the quarter ending June 30, 2009, and
40,600
for the quarter ending September 30, 2009 and for each quarter
ending
thereafter;
|
(3)
|
Minimum
Asset Coverage Ratio (based on a discounted net present value of
"Proved
Reserves"), calculated each quarter, of
1.60:1.00;
|
(4)
|
Minimum
Interest Coverage Ratio (based on EBIDTA and interest expense excluding
interest expense associated with the Convertible Notes) of 2.50:1.00
for
the quarter ending March 31, 2008, 2.75:1.00 for the quarter ending
June
30, 2008, 3.00:1.00 for the quarter ending September 30, 2008,
3.25:1.00
for the quarter ending December 31, 2008 and 3.50:1.00 for the
quarter ending March 31, 2009 and for each quarter ending thereafter;
and
|
(5)
|
Minimum
Leverage Ratio of 4.30:1.00 for the quarter ending March 31, 2008,
3.30:1.00 for the quarter ending June 30, 2008, 2.70:1.00 for the
quarter
ending September 30, 2008, 2.50:1.00 for the quarter
ending December 31, 2008 and for each quarter ending
thereafter.
|
Exhibit
No.
|
|
Description
|
|
|
|
4.1
|
|
Credit
Agreement, dated as of December 27, 2007, by and among Storm Cat
Energy
(USA) Corporation, the Lenders Party Hereto and Wells Fargo Foothill,
LLC,
as Agent
|
99.1
|
P
|
News
Release, dated December 28, 2007
|
STORM CAT ENERGY CORPORATION | |||
Date: December
28,
2007
|
By:
|
/s/ Paul Wiesner | |
Paul Wiesner | |||
Chief Financial Officer | |||
Exhibit
No.
|
|
Description
|
|
|
|
4.1
|
|
Credit
Agreement, dated as of December 27, 2007, by and among Storm Cat
Energy
(USA) Corporation, the Lenders Party Hereto and Wells Fargo Foothill,
LLC,
as Agent
|
99.1
|
P
|
News
Release, dated December 28, 2007
|