Exploration & Production | Debt | Capital Markets | Capital Expenditure
Shoreline Pays Debt, Reviews Capex Program
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Shoreline Energy Corp. has announced its financial and operating results from the third quarter 2014 and is pleased to provide a corporate update following a series of corporate asset sales and significant debt reduction.
Subsequent Events, Assets Sales and Corporate Update Subsequent to September 30, 2014, the Corporation reached a settlement agreement with the holder of the royalty obligation that reduced the obligation to $5.5 million from $9.6 million at September 30, 2014 with $2.5 million paid upon the execution of the agreement and the remaining $3.0 million to be paid on or before December 31, 2014. The settlement agreement further provides that should Shoreline fail to make the remaining payment of $3.0 million by December 31, 2014, the amount owing will revert to the…- ✓ Full news archive — U.S., Canada & international coverage
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