Linc Energy has entered into voluntary administration.
The oil & gas company has appointed Stephen Longley, Grant Sparks and Martin Ford of PPB Advisory as administrators.
“The administrators are working with the company’s management team to fully understand the options available to the company, which may potentially include a restructure of the company at an appropriate time,” said the company in its SGX filing.
On March 30, Linc requested for its shares to be suspended as it seeks more time to continue and complete discussions relating to its debt restructuring and recapitalisation efforts.
In 2Q16, the company posted a net loss of A$95.77 million ($94.93 million) on reduced realised oil prices and reduced capital expenditures on drilling.
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The oil & gas company has appointed Stephen Longley, Grant Sparks and Martin Ford of PPB Advisory as administrators.
“The administrators are working with the company’s management team to fully understand the options available to the company, which may potentially include a restructure of the company at an appropriate time,” said the company in its SGX filing.
On March 30, Linc requested for its shares to be suspended as it seeks more time to continue and complete discussions relating to its debt restructuring and recapitalisation efforts.
In 2Q16, the company posted a net loss of A$95.77 million ($94.93 million) on reduced realised oil prices and reduced capital expenditures on drilling.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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