Shoreline Energy lender forbearance extended amid alternatives process

By Caroline Salls

Pittsburgh, July 22 – Shoreline Energy Corp. entered into an amendment that extends its forbearance agreement with senior secured lender Century Services LP, according to a news release.

The company said the forbearance will give it an opportunity to complete its strategic alternatives process, coordinated by adviser RBC Capital Markets. The strategic alternatives process will continue to provide interested parties the opportunity to move forward with transactions across Shoreline’s complete suite of assets.

Given its asset valuation and current strong commodity prices and the positive progress to date on its strategic alternative process, Shoreline said it believes the process “will provide satisfactory results to stakeholders.”

Under the amendment, the forbearance is effective until Aug. 8, with the potential for a further extension upon achievement of various milestones.

Shoreline is a junior crude oil and natural gas exploration and production company in Calgary, Alta.

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