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LONE - Lonestar Resources: Continues To Teeter On The Edge Of Bankruptcy
Lonestar Resources US Inc Com
Lonestar Resources (LONE) continues to teeter on the edge of bankruptcy after receiving another forbearance extension. This forbearance extension lasts until September 11.
Although the forbearance extension pushes off a bankruptcy filing a bit further, I do not believe that Lonestar's situation has improved at all. Rather, I believe that the forbearance extension reflects that the company may be having trouble coming up with an acceptable restructuring plan that includes enough new money to pay down its credit facility substantially.
Forbearance Extension
Lonestar failed to make its $14.1 million interest payment on