Emerald Oil Inc. - 2015-10-12

Decreased the borrowing base under its revolving credit facility by $80 million as part of its lenders’ scheduled semi-annual redetermination. Results in a deficiency of about $19.6 million. Working with bank group for a repayment schedule and term debt solution. Opportune LLP is financial adviser. Intrepid Partners LLC is investment banker. Mayer Brown LLP is legal adviser.