StockMarketWire.com - Russia-focused oil company Zoltav Resources said a loan agreement entered into with ARA Capital had been amended to extend the final repayment date to 31 December.

All other terms of the up to $9m loan, first announced in July, remain unchanged. It had originally been due for repayment by 15 August.

Zoltav said its management were continuing to hold discussions with a number of prospective providers of project finance for developing East Bortovoy.

'In the event the company takes a positive final investment decision on this project in due course, it is currently envisaged that the Loan would be restructured in order to facilitate any required equity contribution to the project or a part thereof,' it added.


At 2:48pm: [LON:ZOL] Zoltav Resources share price was 0p at 35p



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