Lonestar Resources (LONE) Stock Up 95% After Forbearance Extension

Shares of oil and gas exploration company Lonestar Resources (NASDAQ: LONE) have skyrocketed premarket on Monday after forbearing holders agreed to extend its forbearance agreement.

The agreement has been extended to the 11th of September 2020, despite the fact it had already been extended until the 21st of August.

Forbearance is the temporary postponement of debt repayments that are granted by the lender.

X testing X

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

The agreement refers to holders of its “outstanding 11.25% senior notes due 2023.”

Lonestar share price…

Source: TradingView

Lonestar shares exploded higher after the news and are currently trading at $0.5199, up 94.65% premarket on Wednesday.