Crescent Petroleum, a key shareholder in Dana Gas, is optimistic that the Sharjah-based natural gas producer can meet repayment of its $920 million convertible Islamic bond in October, Crescent's president said on Tuesday.
Abu Dhabi-listed Dana is also in talks with the Government of Egypt to recover delayed receivables from its operations in the North African country, Badr Jafar, Crescent's president, told reporters on the sidelines of an event in Dubai.
"As a shareholder... I believe there are discussions ongoing with the ministry for scheduled payments to recover the receivables," Jafar told reporters on the sidelines of an event in Dubai.
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