* Financing update: subsidiary faces insolvency
* Says Oilexco North Sea Ltd intends to file petitions for administration in
High Court in the UK soon
* Says considering options but at this time remains solvent
* Says committed to previously announced strategic review process
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here)
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