DOME<DMP> DEBT PLAN LIKELY CIRCULATED NEXT WEEK
Dome Petroleum Ltd's plan to reschedule
debt of more than 6.1 billion Canadian dlrs will likely be
detailed to a group of 56 major creditors on Monday or Tuesday
next week, a company spokesman said.
    Circulation of the complex plan to reschedule the company's
debt was delayed to incorporate late changes resulting from
discussions with Dome's lenders, spokesman David Annesley told
Reuters in response to an inquiry.
    Annesley said Dome expects its debt will total between 6.3
billion and 6.5 billion dlrs by June 30, 1987, when it hopes to
implement the debt plan now under negotiation.
    Annesley said Dome Petroleum would issue a statement
outlining the company's debt rescheduling proposal following
release of the plan to lenders.
    Dome Petroleum previously said it hoped to submit the debt
plan by mid-February in order to win agreement in principle
from creditors prior to June 30.
    The group of major lenders have agreed to defer a
substantial amount of debt payments until June 30 under an
interim agreement that links payments to secured lenders with
cash flow generated by assets backing the loans.
    Annesley also said there was no change in the status of
legal actions initiated by six Swiss noteholders who are
seeking interest and principal payment on their unsecured debt.
    Together, the noteholders are owed about 520,000 Swiss
francs, and their legal action places a total of 300 mln Swiss
franc denominated debt in default.
    Annesley said the company's next scheduled appearance in a
Swiss court to defend against the actions is set for March 16.
    Dome Petroleum's 1986 fourth quarter and year earnings will
likely be reported at the end of March, he also said.
 Reuter
