G3 Exploration Ltd - Corporate Update
Further to the update on
In addition, following a hearing for further directions held on
- The JPLs are to be fully involved in and lead the refinancing of the Company's debt.
- The JPLs are to provide written updates to the bondholders and the directors of relevant subsidiaries of the Company fortnightly with respect to any material development with respect to the progress of the refinancing.
The JPLs and the Company intend to utilise this four-month period to pursue the proposed refinancing. Further, the JPLs and the Company will concurrently continue to assist the Receivers in respect of the asset sale process.
G3E is a leading independent gas developer with operations in
The company is committed to an exploration and appraisal focused business plan in coal bed methane development across three geographies concurrently. It has a well-established track record and demonstrated expertise in gas monetisation through three basic principles:
· Focus on core intellectual aptitude in developing coal bed methane
· Develop assets in an environmentally and socially prudent manner
· Protect accreted shareholder value
This information is provided by RNS, the news service of the
Quick facts: G3 Exploration Ltd
Market Cap: £43.86 m
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