authors-morphology.blogspot.com
San Antonio-based TXCO says it is seeking a waivet of the current ratio covenant that was part of its amendedf and restated credit agreemengt datedApril 2, 2007, with Bank of In a press release, the compangy says it believes it is meetintg all other covenant requirements under the credig facility. There can be no guarantee that the company will obtainha waiver. Under the terms of the credity agreement, if there is a default it coulds result in holders ofthe company’s Seried D and Series E convertible preferred stock being allowee to exercise a redemption right.
that redemption right would be suspended until all ofthe company’sz other obligations under the credit facilitu have been satisfied. TXCO Resourcesz (NASDAQ: TXCO) is an independent oil and gas compant with operations in the Maverick Basin, the on-shore Gulf Coast region and the Marfas Basin of Texas and the Mid-contineny region of western
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment