Pacific Energy extends forbearance agreement to Feb. 17

By Sara Rosenberg

New York, Feb. 4 - Pacific Energy Resources Ltd. extended its forbearance agreement for two weeks to Feb. 17, according to a news release.

The extension was obtained to provide the company with additional time to negotiate a longer extension agreement together with additional funding.

The company is currently exploring its strategic options, including equity, mezzanine and debt financing; industry and financial partnerships; or a merger or a sale of all or substantially all of the company or its assets.

Pacific Energy is a Long Beach, Calif.-based oil and gas exploration and development company.

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