RE:RE:Let's See Who Big Debenture Holders AreRollinInDough wrote: in this post from Nov 23... petroexplorer said his cost for zar shares was MUCH HIGHER than 40 cents... the same tool that owned TBE at over $1 a share and watched that one go to zero... too funny how dumb some people are... if they know nothing about the oil bizz they should not own shares... and owning shares in such risky, low production, high debt, low cash flow companies is pure stupidity... pure stupidity.
why do you people own the shares as they fall over 99%... I mean why would not take the initial loss and cap it at say... 25% and say, hell I was wrong on this... get out now... I just wonder what happened to your brain cells...
So here ya go... make some money back on NWX... yes the same one petroexplorer dissed as it paid out about 50 cents in divies when the stock was trading in the 20-30 cent range... petroexplorer said the reserves would dry up... and the operator just said they added 100% more in reserves... hell they keep finding more oil and gas and the wells are better and better then ever expected, oh and the operator is saying they are ramping up drilling there this year!!! BIG time... and NWX gets a no risk GOR on the best land there... right now NWX is getting paid about $10 mill a year... on a $30 mill market cap... so they pay out the cash but their are others wanting to own that GOR... so expect a hostile bid at say double the share price when it settles out.
I don't always have time to check up on Stockhouse, especially as some of my investments languish. The one encouraging fact is the WCS prices are higher than they were, a year ago. If the oil prices sustain themselves, or go higher, then ZAR should move higher. Hopefully it can move higher, before most of the remaining value is sucked out in salaries, and other G+A items.
But I do have to now pay attention, as an old nemesis from the past, has now emerged from the depths, to try and cyber-bully us. RollinInDough, used to have different names, like oilngasconsultant ,oilconsultant, etc. but he kept getting banned from Stockhouse, so had to come up with new names.
He really took people to task, on the TBE board, even after the shares had been delisted. There was nothing logical to continue to berate investors, after they had already lost everything. He continued to berate the Debenture Holders, as we struggled to get what we could. Was he stupid enough to have been short the Debentures?
To clarify what I previously posted, since RollinInDough seems to misread what was said:
"The reason they are proposing this deal now, is there is a real danger of losing everything: the Company likely has negative cashflow, right now. Yes, Debenture Holders do stand first in line, but if a fire-sale of the assets, results in only $15 million of value, do you want to just take 40 cents on the dollar? My average price is higher than that.
I'd rather not have shares, but if the only way to save the company is to pursue some development work, then the Debentures have to be exchanged. But hopefully there are some bigger Debenture Holders that can negotiate a bit more, with little effort, and then hopefully give a bit more board supervision, in the go-forward entity."
So now, at 3 cents per share, or 30 cents on the dollar, I'd like to see a higher price. Let's hope management is working towards this goal. At least the WCS price, is starting to cooperate.
In the meantime, there isn't much I can do, except wait this out. But I'll gladly stand up to RollinInDough, if he tries to harass this bulleting board.