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BRIEF-Delphi Energy Provides Update On CCAA Proceedings

Published 2020-05-08, 05:45 p/m
© Reuters.

May 8 (Reuters) - Delphi Energy Corp DEE.TO :

* DELPHI ENERGY CORP. PROVIDES UPDATE ON CCAA PROCEEDINGS AND OPERATIONS UPDATE

* DELPHI ENERGY CORP - OBTAINED AN ORDER FROM COURT EXTENDING STAY PERIOD PROVIDED BY AMENDED AND RESTATED INITIAL ORDER TO MAY 22

* DELPHI ENERGY CORP - EXTENSION OF STAY PERIOD TO MAY 22 IS EXPECTED TO ALLOW FOR INTERIM FINANCING FOR CO TO BE NEGOTIATED AND FINALIZED

* DELPHI ENERGY - AFFILIATE OF LUMINUS MANAGEMENT HAS PURCHASED & TAKEN ASSIGNMENT OF ALL OF RIGHTS OF CO'S FIRST LIEN SENIOR SECURED LENDERS

* DELPHI ENERGY CORP - INTENDS TO PURSUE WELL ABANDONMENT FUNDING FROM FEDERAL AND PROVINCIAL GOVERNMENT PROGRAMS

* DELPHI ENERGY CORP - EXTENSION OF STAY PERIOD TO MAY 22, 2020 IS EXPECTED TO ALLOW CO TO CONTINUE ITS RESTRUCTURING EFFORTS

* DELPHI ENERGY CORP - INTENDS TO RELY ON TEMPORARY BLANKET RELIEF PROVIDED BY CANADIAN SECURITIES ADMINISTRATORS

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