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Oil & Gas Exploration and Production

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Liquefied Natural Gas announced staff reductions

Wednesday, 20 Jul 2016 10:03pm EDT

Liquefied Natural Gas Ltd : LNGL modifies staffing levels to reduce and streamline . Announced staff reductions . Affected employees will receive payments consistent with individual employment agreements, payments aggregate about A$2 million . Changes reflect a combination of redundancy and restructuring measures . Affected individuals continue to hold 1.6 million performance rights pursuant to terms of company's incentive rights plan . Change leads to reduction of three employees and one consultant in Australia, one Indonesia-based employee, and six U.S.-based employees .

Lightstream Resources gets preliminary interim order from Court of Queen's Bench of Alberta

Wednesday, 13 Jul 2016 11:48am EDT

Lightstream Resources Ltd : Says received a preliminary interim order from Court Of Queen's Bench of Alberta . Says order in respect of a proposed CBCA plan of arrangement . Anticipates will return to court on or before August 5, 2016 to seek a further order . Says intends to continue to operate business and satisfy obligations to our service providers .Order includes stay prohibiting any person from terminating, taking any enforcement steps, by reason of company's commencement under CBCA.

Bonanza Creek Energy retains Perella Weinberg Partners to assist in evaluating financial, transactional alternatives

Wednesday, 13 Jul 2016 10:30am EDT

Bonanza Creek Energy : Retained perella weinberg partners to advise company and assist in analyzing, evaluating financial and transactional alternatives . Davis polk & wardwell llp will continue to provide ongoing corporate and finance representation .Retained perella weinberg partners to advise co in evaluating alternatives, including restructuring options.

GME Resources repaid standby funding facility provided by Zeta Resources Ltd

Monday, 27 Jun 2016 06:23pm EDT

GME Resources Ltd : Says company is now debt free and has sufficient working capital to fund the project through to completion . Company has now repaid the $1.5 million standby funding facility provided by zeta resources ltd for the development of Devon gold mine .

Canadian Spirit Resources Q1 shr $0.00

Monday, 30 May 2016 04:05pm EDT

Canadian Spirit Resources Inc : Canadian Spirit Resources Inc. announces first quarter 2016 financial results . Qtrly earnings per share $0.00 . Qtrly average sales volumes of natural gas 635 mcf/d versus 821 mcf/d ."management and board of directors of CSRI are continuing to focus on and pursue strategic alternatives for corporation".

Halcon Resources says agrees with stakeholders over balance sheet restructuring

Wednesday, 18 May 2016 04:30pm EDT

Halcon Resources Corp :Halcon Resources reaches agreement in principal with stakeholders regarding a comprehensive balance sheet restructuring.

Exco Resources forms special committee to explore strategic alternatives

Friday, 13 May 2016 06:00am EDT

Exco Resources Inc : Says will retain a financial advisor(s) to assist in exploration of strategic and financial alternatives . Will evaluate alternatives such as exchanges of existing indebtedness for stock renegotiation/repurchase of existing indebtedness . Says has retained Akin Gump Strauss Hauer & Feld, LLP as its legal advisor . Will evaluate alternatives such as issuance of equity, divestitures of assets, issuance of additional indebtedness . To evaluate alternatives such as in court and/or out of court restructurings, restructuring of gathering, transportation, other contracts .Exco Resources Inc Announces the formation of special committee of directors to explore strategic alternatives.

North Energy to consider new corporate and management structure

Wednesday, 27 Apr 2016 04:11am EDT

North Energy ASA:Proposes new corporate and management structure to strengthen business model and its commercial platform.Intends to reorganize its activities and pursue a new business model based on active ownership to exploit investment opportunities in the oil and gas industry and related businesses.Initially will transfer all of its E&P related activities to North E&P AS (formerly Explora Petroleum AS).Will outsource certain strategic, financial and business advisory services to North Advisors AS.North Advisors AS is an advisory company to be owned by group of key stakeholders of the Company, consisting of Anders Onarheim, Rachid Bendriss and Didrik Leikvang.Will form a new subsidiary, North Energy Capital AS (NE Capital), which will enter into a transaction agreement with North Advisors whereby North Energy will transfer substantially all of its financial and operational assets to NE Capital.Settlement to be made through a consideration of new preference shares and 80 pct of ordinary shares in NE Capital.North Advisors will hold the remaining 20 pct of ordinary shares.Preference shares held by North Energy will be redeemed over three years and Company intends to use the proceeds received as dividend payments to shareholders in North Energy.Further intends to pursue consolidation opportunities related to energy assets and companies, which may include partnerships with financial investors or industrial joint ventures within oil and gas business.

PA Resources announces organisational and management changes

Monday, 28 Dec 2015 02:30am EST

PA Resources AB:PA resources says announces organisational and management changes.Says as a result of the board's decision announced on the 17 November 2015 to sell all of PA Resources' assets, it has decided to reduce the company's corporate organisation in order to reduce cost.Says the company's London office will close at the end of 2015, and the corporate headquarters in Stockholm will remain, but with reduced manpower.Says Slimane Bouabbane, VP Business Development, will leave his position during the first quarter of 2016 and Urban Adolfson, acting CFO, will leave the company on the 11 March 2016 to take up a position at another company.

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