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LGX Oil + Gas Evaluating Capital Options
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LGX Oil + Gas Inc. has announced it has filed on SEDAR its audited financial statements and related Management's Discussion and Analysis for the year ended December 31, 2014 as well as its annual information form for the year ended December 31, 2014.
Outlook and 2015 Guidance The Company is currently evaluating measures, including but not limited to: asset sales, accessing third party capital, joint ventures and drilling commitment extension. At current commodity prices, the Company expects that it may approach non-compliance with the existing financial covenants under its credit facilities in the near future and will continue proactive discussions with its lender regarding the facility and the covenants. With cash flows impacted by oil prices at five year lows, LGX is working…- ✓ Full news archive — U.S., Canada & international coverage
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