Curzon Energy PLC (LON:CZN) has told investors that YA Global has sold debt in the company to a third party, C4 Energy, meanwhile, its management continues efforts for a refinancing and is potentially seeking interests outside of the energy sector.
The company noted that balance of the loan sold by YA is US$200,000 with around US$32,000 of accrued interest.
Separately, the company said it is in talks with holders of £200,000 of secured loan notes and expects to reach a refinancing agreement in due course.
Looking at the “focus of the company”, Curzon has decided to expand its scope.
“The directors have identified a number of attractive opportunities available for Curzon to potentially participate in,” the company said.
“At this stage, there can be no assurance that these opportunities will lead to any transaction but the directors remain committed to completing a transaction in the near term.”
Curzon said it has now decided to end talks with Pared Energy which previously envisaged the acquisition of a gas project in Texas.