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Shoreline Energy Floating Near Bankruptcy
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Shoreline Energy Corp. has reported its 2014 year end oil and gas reserves, as well as 2014 year-end financial and operating results.
Going Concern Risk The Company's ability to continue as a going concern is dependent upon the continued support of the Company's debenture holders as well as the Company's ability to obtain other financing to fund its existing obligations, operating, financing and investing activities. If the Company cannot negotiate a shares-for-debt settlement with its debenture holders and acceptable settlement terms with its other creditors, the Company may need to enter into credit protection to restructure its financial position. After selling a significant portion of its producing assets, Shoreline's environment licensee liability rating (LLR) dropped below 1.0…- ✓ Full news archive — U.S., Canada & international coverage
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