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Herbert has worked for BP, Philips Petroleum, and Talisman Energy and has experience working in the oil sector in Colombia.

This represents at least the second unexpected delay this month for Pacific Exploration in finalizing its restructuring plan.

Pacific Exploration said its arrangement with Catalyst will close on October 12, "assuming satisfaction or waiver of the remaining conditions."

Pacific Exploration is selling its 35% stake in the Karoon Blocks in Brazil to Karoon Gas Australia Ltd. for at least $15.5 million.

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.

“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.

Ecopetrol (BVC:ECOPETROL, NYSE:EC, TSX:ECP) has won, for the third time, the Accenture Innovation Prize for its EcoDiDesh technology for removing moisture from heavy crude oil products in a more efficient manner than traditional methods. Launched in 2012, this award represents...

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...