Trinity Exploration & Production PLC’s (LON:TRIN) creditors have approved their part of a US$15mln refinancing of the Trinidad oil company.
Shareholder approval is now needed at a general meeting on 29 December to get the restructuring passed.
All parts of the restructuring, including the creditors proposal and funding, have to be approved and executed for it to go through.
Bruce Dingwall, Trinity’s executive chairman, said the proposals ended a period of prolonged uncertainty for the explorer.