Compton Petroleum gets another extension to repay C$30 million draw

By Marisa Wong

Madison, Wis., June 22 - Compton Petroleum Corp. announced a further extension of the cure period to July 6 for the repayment of C$30 million drawn on its C$110 million credit facility.

The cure period was previously extended to June 22 from June 8. The drawn funds were originally due May 7.

The company said the latest extension reflects continued progress with its recapitalization. The company hired RBC as a financial adviser and agent for the recapitalization.

Compton Petroleum is a Calgary, Alta.-based explorer, developer and producer of natural gas, natural gas liquids and crude oil in western Canada.

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