UPDATE 2-Ukraine's Naftogaz eyes another bond waiver-source

(Adds Ukrainian govt, Naftogaz, details)

By Sebastian Tong

LONDON, March 31 (Reuters) - Ukraine's ailing state energy firm Naftogaz will seek another bondholders' waiver to avoid a technical default on its $500 million eurobond UA020207868=, a source said on Monday.

The company is expected to begin contacting its foreign creditors soon to secure an extension of two months for the publication of its 2006 financial results -- due on Monday after an earlier bondholder waiver was obtained in February.

"They won't be able to publish the financials today and will need another two to three weeks to get the auditor sign-offs," a source familiar with the situation said.

Naftogaz declined to comment.

The firm went into technical default on the 8.125 percent Eurobond due 2009 after failing to provide audited 2006 financial results and has missed several deadlines to do so.

It has managed each time to obtain an extension from its creditors, averting a default that analysts say could cost the company a combined $2.5 billion.

Naftogaz's financial health has been uncertain since it failed to pass on to consumers steep gas price rises from Russia and lost out on revenues when two gas transit intermediaries were introduced in 2006.