Oilexco Companies' Creditors Arrangement stay extended to May 29

By Caroline Salls

Pittsburgh, April 29 - Oilexco Inc.'s Companies' Creditors Arrangement Act stay has been extended to May 29, according to a company news release.

According to the release, the extension will allow Oilexco and its wholly owned Alberta subsidiary Oilexco Technical Services Inc. to remain in control of its property as it continues to restructure.

Oilexco is a Calgary, Alta.-based oil and gas exploration and production company active in the United Kingdom, specifically in the Outer Moray Firth and Central Graben areas of the U.K. central North Sea.

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