Circle Oil says considering debt restructuring or equity raising
The exploration group said trading remains very challenging
Circle Oil said it is considering a number of options, including a debt restructuring and an equity raising, to ensure it has sufficient cash flow to fund its operations.
The exploration group said it was working toward making such a move by the end of the first quarter of 2016 after making slower-than-expected progress in discussions with International Finance Corporation on extending its lending facility while trading remained "very challenging" due to a further weakening...
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