Rooster Energy PRBEQ

wrong, biggie

[westcoast1000]

I do not agree that this stock is a disaster and that we have a lousy management team. They made money last quarter in a catastrophic energy price regime. They have a flexible strategy that involves both well services and production. They have completed drilling a new major well. They &nbsp;have over 85% share ownership by insiders including 80% by the chairman of the board.<br /> <br /> Their incentives are aligned with ours in broad terms but if the price stays down, it does not really hurt them right now. They are not doing anything to bolster the share price, except for trying to run the company effectively in diffcult circumstances.<br /> <br /> End of April will bring year end and Q 4 results while end of May will bring Q1 2016 results.&nbsp;<br /> <br /> The price will go up when there is a reason to buy. At present people feel like they will be able to get shares for .03 and see no reason to buy. But recall their are only about 25 million shares outside the hands of insiders and when there is news, the price will climb fast.

[Brettdoyle]

Well said! 

[Virgal-]

Not bashinng but just curious or looking for your guys' opinion on the last paragraph: "If the Company is unable to restructure the financial and performance covenants of the credit facility or extend the term of the waiver on or before the end of the fiscal quarter ending June 30, 2016, then the Company may be in default of one or more of the covenants and in that event the holders of

[fagiani24]

Where is Rover these days lol. Still buying rover? Or were u pumping and selling.

[redgreen66]

I was thinking the same thing. This was a bit of a surprise announcement as it was, but that last paragraph was what really caught me off guard. Without financials being released, it's sort of hard to tell what's happening at the moment. For example, take the excerpt below: "Robert P. Murphy, Chief Executive Officer commented, "This amendment is the result of a decision by

[Burnerman]

I too was thrown by the last paragraph. The rest of the release talks about restructuring the financing and how the backlog of work and new opportunities are helping the company through the tough times. Why did they even put the last paragraph in?  It's like they want the stock price to stay low on purpose! If the company has the backlog of work they say they have plus with oil prices

[Virgal-]

I think that if they have already made amendments then it is likely a legal protocal to add that disclaimer. Perhaps it's what lawyers require? Anyway, I'm not sellin now. Thats just stupid when youre already at an 80% loss.. Might as well hold for financials or go down with the ship. Murphy did say they were being "proactive" tho so I get the feeling they are just taking

[redgreen66]

Your about where I am. I am going to save next to nothing getting out now at this price - might as well hold tight and hope this is the last of the bad news moving forward. If financials are respectable and repayment goes as expected, this could easily jump back.  While I am feeling sick this morning seeing it go down to a penny and a half, but the one comfort is that with all of those out

[Virgal-]

Exactly, someone is buying if someone is selling. Sounds good man, we're in this together ;) 

[fagiani24]

One fear I have is that when the payment comes due, they will issue 8-9 billion common shares to repay the debt, that's is very common today in the oil and gas sector.....if this happens this stock will drop to. 05 and stay there for years to come. It's reality, just pray it doesn't happen.

[westcoast1000]

Your fear is unlikely to come to pass, because Morrison owns 80% of the shares. These are not corporate managers just trying to keep their jobs. The managers here own the whole company except for the modest amount of shares in retail hands. 

[fagiani24]

What burns me is people like rover. Big talker and all B.S. Now he\she vanished. Biggest B.S'r on board.