April 14 (Reuters) - Oil and gas producer Pacific
Exploration & Production Corp PRE.TO said its board has agreed
to negotiate a financial restructuring involving The Catalyst
Capital Group Inc and the company's creditors.
The company, an ad hoc committee of noteholders, bank
lenders and Catalyst continue to be engaged in direct
negotiations to finalize the terms of the restructuring, Pacific
Exploration said in a statement on Thursday.