Capricorn Energy said the Court has sanctioned Waldorf Production UK Plc's restructuring plan and the sanction paves the way for cash realisations on completion.
The company, a cash flow-focused energy producer with onshore development and production assets in the Western Desert, expects to receive approximately US$4-5m together with the recovery of certain outstanding costs in the second half of this year.
Capricorn noted that it retains the right to participate in potential residual claims.
