IGas Energy has said it will continue to discuss options with key stakeholders on capital restructuring.
The announcement by Britian’s largest shale gas developer pushed its shares down 4%.
The firm said it has continued to hold discussions with bondholder Trans European Oil & Gas, which has called for the sale of IGas’ conventional assets.
IGas has been in talks with bondholders over extending debt maturity, deferring certain interest payments and waivering some financial obligations as it struggles against depressed oil proces.
The company expected a 10-day ‘business grace’ period to pursue options such as sale of assets.
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