Administrators to wind up Oilexco’s UK business

摘要

London-Canada’s Oilexco, which operates in the UK’s North Sea, confirmed last week it has appointed administrators to wind up its UK business after failing to secure loans to fund its drilling and development plans. Oilexco, which is listed on the London and Toronto stock exchanges, said previously that its UK subsidiary is facing insolvency and would seek administration in the first week of January.