(Alliance News) - Curzon Energy PLC on Thursday announced an enlarging of its focus to include sectors outside of energy, leading to the termination of one transaction.
Shares in the London-based oil & gas development firm were 3.1% lower at 0.78 pence on Thursday.
Curzon said it has identified several "attractive opportunities" to take part in, but stressed that there would be no assurance that these opportunities would lead to any transaction.
As a result of these developments, as well as overarching market conditions in the junior oil & gas space, Curzon has terminated the deal with Pared Energy LLC for the acquisition of a stake in a gas project located in the US state of Texas. The gas project stake deal was announced in September 2019.
Also on Wednesday, Curzon said its outstanding debt due to YA Global Investments LP has been sold to C4 Energy Ltd. The balance of the loan agreement stands at USD200,000, with USD32,000 in accrued interest.
In addition, Curzon said it is still in discussions with the lenders of GBP200,000 in secured loan notes, and expects to reach an agreement on refinancing with the lenders "in due course".
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Curzon Energy (CZN)