Dommo may postpone chartering in December

Last Tuesday (3), Dommo Energia (DMMO3) reported that is finalizing the revitalization of the Hammer Shark Field and has significant investments for the next 60 days. The company also does not discards the possibility of using a larger portion of your revenue to complete with the plan. If this happens, Dommo may stop paying the chartering of FPSO OSX-3 (vessel belonging to OSX-3) marketing in December and the first quarter of 2020.

 “This default may be necessary to avoid any risk of liquidity restriction while Dommo concludes the revitalization plan,” explained Eduardo Yuji Tsuji, the company’s chief financial and Investor Relations Officer.

Currently, deadlines are scheduled for the end of december and in the first quarter of 2020. Dommo and OSX3 will discuss additives to the terms of chartering to align payments.