Delphi Energy Corp. DPGYF

Kiwetinohk Resources

[pennydredful]

Since    all   debt    is    being    converted    to  equity    why    was  it   necessary   to   bring   in   the  above    named    party    in to     the  deal    at    all  ?

[pennydredful]

and    why    weren't     existing     shareholders    given    rights    to   buy  new     shares   at    the  same   price    as    the   Indian   named

[Raymondjames]

KRC comes out huge on this deal but they are stepping up with $60m +/- and operating the Company. Debt holders need this to double which it likely will given no debt, fcf at $41 wti etc. Luminous was 2/3 equity and 1/2 debt. They too are taking a haircut but we are better off with Pat  behind the wheel. 

[pennydredful]

Note holders  need   a    4  fold   rise   not  a  double  as  notes   only  worth  25cents  on  the dollar  .  Luminous  pigged  out   on the bank  debt   and   DIP  financing  compensation  not  to  mention 

[Raymondjames]

Penny - have been hearing a market cap of $150 -250m post ccaa. No debt, $60m in cash if Karlson executes the warrants, an undrawn LOC, and 7000 boed. Note holders should get at least 50cents on the dollar if held from the beginning.