Xcite Energy extends maturity date of loan notes

Xcite Energy, an AIM-listed North Sea oil and gas group, has extended the maturity date of its unsecured 14 per cent loan notes.

Xcite Energy, an AIM-listed North Sea oil and gas group, has extended the maturity date of its unsecured 14 per cent loan notes.

The term has been extended for a period of 275 days to December 31st 2013, which may be extended for an additional 90 days to March 31st 2014, subject to the approval of the issuer, West Face Capital.

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Merchant Securities shifted its target price modestly from 167.80p to 167p and stayed with a buy recommendation.

The share price rose 1.75% to 101.75p by 14:35.

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