Brief: Atlantic Petroleum To Take Up Negotiations With Creditors
31/05/2024 15:06
May 31 (Reuters) - Atlantic Petroleum P/F ATLA.CO :
* EXPECTATION IS THAT ORLANDO FIELD WILL CONTINUE TO PRODUCE
AT
STABLE RATES IN 2024
* BOARD WILL IMMEDIATELY TAKE UP NEGOTIATIONS WITH CREDITORS
ON
AGREEMENT REDUCING OVERALL DEBT SIGNIFICANTLY
* UNLIKELY THAT ORLANDO REVENUE SHARE CAN COVER TOTAL DEBT
OF CO
* UNLESS AGREEMENT REDUCING OVERALL DEBT IS ACHIEVED IT IS
UNLIKELY THAT COMPANY CAN CONTINUE AS GOING CONCERN
Source text for Eikon: ID:nGNE456l8Y
Further company coverage: ATLA.CO
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))
Recent news on Atlantic Petroleum P/F
See all newsBrief: Atlantic Petroleum P/F Submits Application For Exploration And Production Licence In Faroe Islands
Brief: Atlantic Petroleum Says Orlando Field Production Ceases Permanently
Brief: Atlantic Petroleum P/F - To Reduce Total Debt By Over DKK 90 Million
Brief: Atlantic Petroleum P/F Says Work On Completing Relevant Debt Agreements Is Still Pending But Finalization And Signature Is Expected Within Weeks
Brief: Atlantic Petroleum To Keep Activity At Minimum Until End-2025