Premier Oil said it is in continued discussion with its lending group in terms of its existing financial facilities.
The company said the discussions are continuing to “progress well”.
Since talks began the firm has been receiving monthly deferral in respect of its financial covenants.
In a statement, Premier Oil said the test for the 12-month period ending August 31st this year has now been replaced for the 12-month period ending September 30th 2016.
A spokesman said: “Premier expects to continue to receive monthly deferrals of the test of its financial covenants until negotiations conclude.”
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