GRANITE OIL CORP. announced the fall review of the Company’s borrowing base redetermination of its credit facility has been completed. The semi-annual borrowing base redetermination of Granite’s credit facilities has been completed. The Company’s lenders have mutually agreed to a renewed borrowing base of $47.5 million with a current authorized amount of $42.5 million, which will serve to reduce associated interest and standby costs. With year-end 2019 net debt expected to be approximately $39.5 million, and with continued quarter-over-quarter debt reduction, the Company’s credit facilities are more than enough to execute, or expand, its planned capital program in 2020.