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Despite 98% of creditors approving a Catalyst Capital restructuring plan this week, Pacific Exploration says it is still weighing an alternative proposal from a group including its largest shareholder.

More than 98% of affected creditors approved the plan, and Pacific Exploration expects to get official sign off from a Canadian court on August 23.

Pacific Exploration & Production Corp. has extended its proxy and election deadline until 5:00 p.m. on August 12, 2016.

This is Gran Tierra's third big play in Colombia already this year after the Calgary-based firm acquired Petroamerica Oil and PetroGrenada in January.

The expiration of a contract between Pacific Exploration and Ecopetrol cedes the Canadian firm's 43% stake in the vast Campo Rubiales field to the state-run oil company.

“EIG’s binding proposal is undeniably superior and is clearly in the best interests of creditors, the company, and its other stakeholders," said EIG CEO Blair Thomas.

While initially offering $175 per $1,000 face value of delinquent Pacific Exploration & Production (TSX: PRE) (BVC: PREC) notes due between 2019 and 2015, Harbour Energy subsidiary EIG Pacific Holdings has revised downward its offer to $160 per $1,000 face value, and amended...

Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced today that the Toronto based petroleum company’s lenders have agreed to extend the liquidity deadline to 11:59 pm EST on February 26, 2016, which is the end of the existing waiver period. The waivers...

After being rebuffed last summer by a major Venezuela based shareholder when it attempted to acquire Pacific Exploration & Production (TSX:PRE) (BVC:PREC) , then known as Pacific Rubiales, in a joint offer along with ALFA S.A.B. of Mexico, Harbour Energy is attempting to take...

Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced today that the company and its lenders have agreed to extend the Liquidity Deadline to February 4, 2016, “or such later date as the company and its lenders shall agree.” This comes after the oil company...