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"The group has overcome the period of low oil prices and has returned to the path of growth in production," said CEO Juan Carlos Echeverry.

"This company will be disciplined and margin-focused, not simply production-driven," says Pacific Chairman Gabriel de Alba.

Pacific believes the affected common shares will be listed on the Toronto Stock Exchange on November 3

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.

Pacific Exploration expects to implement its restructuring plan, allowing it to come out of creditor protection, during the week of October 3.

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.

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...