Gulf Keystone has extended its standstill agreement with stakeholders until July 1.
The standstill agreement, in place with the majority of its note and bondholders, had previously been extended to June 13 as the company continues to work to resolve its finances.
The signatories to the extension of the Standstill Agreement are the same as to the prior standstill. They hold a significant proportion (but less than 75% by principal amount) of each of the company’s notes and bonds.
Gulf Keystone delayed over $26million of coupon payments that had been due in April until the end of May to make the payment. That was then extended to June 13 and has now been pushed to July 1.