TORONTO, April 25, 2016 /CNW/ - Pacific Exploration & Production Corporation wishes to clarify that the "court-supervised process" to be used to implement the comprehensive financial restructuring referred to in the Company's previous press releases is anticipated to be the Companies' Creditors Arrangement Act (CCAA), Canadian federal legislation that allows financially troubled corporations the opportunity to restructure [...]
TORONTO, April 22, 2016 /CNW/ - Pacific Exploration & Production Corporation ("Pacific" or the "Company") has retained Kingsdale Shareholder Services, North America's preeminent shareholder services firm, to act as its strategic advisor and proxy solicitation agent in relation to the previously-announced comprehensive restructuring agreement among the Company, certain holders (the "Noteholders") of the Company's senior [...]
Pacific Exploration & Production entered into confidentiality agreements with certain members of the Ad Hoc Committee of holders of the Company's senior unsecured notes to facilitate discussions about a possible restructuring transaction. Pursuant to the Confidentiality Agreements, the Company disclosed information, including certain non-public information (the "Non-Public Information"), through the Ad Hoc Committee's [...]
Pacific Exploration & Production today announced that it has entered into a definitive support agreement with: (i) certain members ("Supporting Noteholders") of an ad hoc committee of holders of the Company's senior unsecured notes, (ii) certain of the Company's lenders under its credit facilities (the "Supporting Bank Lenders", and together with the Supporting Noteholders, the "Supporting Creditors"), and (iii) The [...]
TORONTO, April 19, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that the Company has received notice from the Toronto Stock Exchange (the "TSX") that the TSX has suspended the Company's common shares immediately while the TSX reviews the Company's continued eligibility for listing under the TSX's Expedited Review Process. Trading in the Company's common shares has also been [...]
TORONTO, April 19, 2016 /CNW/ - DELISTING REVIEW Pacific Exploration & Production Corporation (the "Company") – Further to Bulletin #2016-0391 dated April 18, 2016 TSX is now reviewing the common shares (Symbol: PRE) (the "Shares") of the Company with respect to meeting the requirements for continued listing pursuant to the Expedited Review Process. The Shares are suspended from trading immediately. About TMX Group [...]
TORONTO, April 19, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) ("Pacific" or the "Company") today announced that, with the support of: (i) an ad hoc committee of holders of the Company's senior unsecured notes (the "Ad Hoc Committee") and, (ii) certain of the Company's lenders under its credit facilities (the "Supporting Bank Lenders"), it has entered into an agreement with The Catalyst [...]
TORONTO, April 18, 2016 /CNW/ - DELISTING REVIEW Pacific Exploration & Production Corporation (the "Company") – TSX is reviewing the common shares (Symbol: PRE) of the Company with respect to meeting the continued listing requirements. The Company has been granted 30 days in which to regain compliance with these requirements, pursuant to the Remedial Review Process. About TMX Group (TSX:X) TMX Group's key subsidiaries [...]
TORONTO, April 18, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that it has received notice from the Toronto Stock Exchange (the "TSX") that the TSX is reviewing the eligibility for continued listing on the TSX of the common shares of the Company. The Company has been granted 30 days in which to regain compliance with the TSX's requirements for continued listing. The Company [...]
TORONTO, April 14, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today provided an update in respect of its efforts to formulate a comprehensive financial restructuring that will reduce debt, improve liquidity, and best position the Company to navigate the current oil price environment. The Company has engaged in an extensive bid solicitation process over the last few months, which process [...]
TORONTO, April 11, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today confirmed that it continues to work with its creditors to formulate a comprehensive financial restructuring that will reduce debt, improve liquidity, and best position the Company to navigate the current oil price environment. The Company, in conjunction with its creditors, continues to evaluate methods to restructure its [...]
TORONTO, March 31, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that the Company was formally notified of the Colombian Constitutional Court's decision instructing the Company to suspend operations within two kilometers of the border of an indigenous community known as "Vencedor Piriri" encompassing a portion of Quifa Block. The community is located in the north-west corner of [...]
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