ENP Newswire -
Release date- 21072014 -
The agreement entails that the Company will pay the interest, which fell due
The Company has recently pursued a number of activities to enable the Company to resume normal business. Priority has been given to the negotiation of the standstill agreement with bondholders ensuring that the Company is allowed time to finalize and complete its strategies and initiatives.
The Board apologizes for not being able to provide more information related to specifics on time or content on current activities due to confidentiality clauses in the ongoing advanced negotiations.
As to other significant updates, the Company has been informed that the ratification of the Hamza Development Plan in
The Board wishes to thank all stakeholders and Company employees for their support and dedication during a very challenging period as well as sharing the objectives for securing Company long term sustainability. The Board also wishes to highlight that the Company is in active merger and acquisition discussions as well as prioritizing to resume production in
The Company will provide periodical updates as soon as material and concrete events unfold.
ABOUT THE COMPANY
Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company owns 100% of a gas producing property located in
Tel: +1 403 705 1919
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.
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