Mahalo Energy seeks to continue cash collateral use through Oct. 9

By Jennifer Lanning Drey

Portland, Ore., Aug. 25 - Mahalo Energy (USA) Inc. asked the U.S. Bankruptcy Court for the Eastern District of Oklahoma for approval to continue to use cash collateral through Oct. 9, according to a Tuesday filing.

The company said its access to cash collateral is currently set to expire on Sept. 4.

If unable to continue to use cash collateral after that date, Mahalo said it will be unable to pay any of the expenses necessary to maintain its operations and assets.

Mahalo Energy (USA) is a Tulsa, Okla.-based subsidiary of Calgary, Alta.-based junior unconventional natural gas producer Mahalo Energy Ltd. The subsidiary filed for bankruptcy on May 21, and its Chapter 11 case number is 09-80795.

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