Circle Oil secures extension to debt waivers

AIM-listed oil and gas exploration company Circle Oil said on Friday that the International Finance Corporation has agreed to extend the suspension of repayments due under the group’s reserve based lending facility.

The deadline has been extended until 13 May 2016.

“IFC has indicated its willingness to consider further waivers as may be required to continue the strategic review process based on circumstances applying at the time of any application,” Circle said.

At 0940 BST, Circle shares were up 18% to 2.50p.