Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
OKLAHOMA CITY, Feb. 29, 2016 -- PostRock Energy Corporation (OTC PINK:PSTR) (“PostRock”) announced that it has received written notice from the Administrative Agent of the Third Amended and Restated Credit Agreement originally dated December 20, 2012 (the “Credit Agreement”), that PostRock is in default of the Credit Agreement. The default is due to its failure to make the quarterly interest payment due February 11, 2016, and its failure to cure the borrowing base deficiency. The notice was received one day after PostRock’s previous press release from February 25, 2016, which announced that PostRock was unable to reduce the outstanding amount under its credit facility to its borrowing base and that PostRock did not make the last quarterly interest payment.
The Administrative Agent has notified PostRock that, among other things, the commitments of each lender to make revolving loans are terminated, interest on the principal amount of all outstanding obligations will accrue at the default rate under the Credit Agreement, and accrued and unpaid interest on all past due amounts will be due and payable on demand. The lenders have, at this point, not accelerated the balance of PostRock’s indebtedness or exercised any other rights and remedies they have under the Credit Agreement. However, the lenders have preserved all rights and may choose to accelerate the balance of PostRock’s indebtedness or exercise any other rights and remedies at any time.
PostRock is engaged in the acquisition, exploration, development, production and gathering of crude oil and natural gas. Its primary production activity is focused in the Cherokee Basin, a 15-county region in southeastern Kansas and northeastern Oklahoma. PostRock owns and operates over 2,500 wells and nearly 2,200 miles of gas gathering lines in the Basin. It also owns and operates minor oil and gas producing properties in the Appalachian Basin.
Company Contact: Casey E. Bigelow CAO, Secretary & Treasurer [email protected] (405) 702-7435
