Rooster Energy PRBEQ

stronger?

[westcoast1000]

One might argue the company is in a better position than it was before this change. We were all ignorant but hoping the debt was manageable. Now they have made it more manageable.

The share price could return to .03 in a few days. It is hard to see why people would sell at this point. Everyone except a few will be locking in losses, that are unlikely to deepen much.

[snootchybootchy]

Good posts.  The reason why I bought into this name was because it looked clear to me that failure had already been priced into this stock.  Either you believe that the "cradle to grave" strategy will keep this company afloat until oil price recovers or you don't.  The fact that this company was able to eke out a profit in Q3 was a meaningful signal to me the strategy

[thedon]

Nobody seems to want to hear any positives today?  I wonder how many of the really negative posters even own any shares, and/or how many are buying today? Maybe this news release will mark the beginning of a new more open line of communication.  This could be a big positive if so...

[fagiani24]

Facts @"thedon" I own 410,000 shares. The negativity doesn't come from me, comes from the company. The resignation of their CFO, unable to pay the 60,000,000 debt. No 4th quarter news and the constant drop in SP. Why are you waiting for the 4th quarter anyway? They already stated they are unable to pay the loan at this time........

[westcoast1000]

Corrections: They stated that they are unable to meet to covenants. No one would expect them to pay out their whole line of credit at present. They have to pay it by refinancing it in June 2018. Their previous CRO died, they hired a temp and he resigned.  The SP has dropped because of oil prices, not because of losses. They made a small profit last quarter. I am waiting for the 4th

[westcoast1000]

Should be CFO, not CRO.

[fagiani24]

Actually no. They are not paying the debt because they are not able too. Refinancing??? and what assets would they have which would allow them to refinance?

[westcoast1000]

Fagiani, You have different view than what was said. They said they may run afoul of covenants. They have years to pay interest on the current agreement and would not ever make an attempt to pay it off faster. They did not say they could not make interest payments. By 2018, they will have valuable assets to borrow against, like reserves, cash flows from sales and cash flows from the well

[fagiani24]

Westcoast. Why hold? Because I'm not about to sell at 2 cents. If SP goes back to. 05 in the next few months, trust me I'm out. But, it would take a lot for that to happen.

[fagiani24]

I'm stuck in a similar one like this, AXL. I feared the same that they would pay off the debt by issuing billions of common shares, everyone thought I was nuts.......but guess what, it's exactly what happened.

[westcoast1000]

fagiani, Here is one last reply, in hopes of lifting your spirits. AXL is not at all like COQ. AXL has not made money for some time, while COQ made money last quarter. AXL has no well services division to provide cash flow and low cost reserves. AXL is in Alberta, not the Gulf coast. And most important of all, AXL does not have a board chair who owns 80% of the shares. Can you see how those

[fagiani24]

All very true and good points. Please don't get me wrong, I'm not trashing this stock, nobody hopes more than me but with the zero news COQ puts out besides negative releases, we better hope Q4 comes soon with positive news.

[fagiani24]

Westcoast. You are right, why am I holding. After some digging of information, ive now put the whole load for sale at. 02. For all you believers, you should buy them up.

[redgreen66]

care to share your reasoning?

[Eagle100]

here you are... who are the creditors?

[westcoast1000]

Chet Morrison is the creditor for some, maybe most, of Rooster's debt. It is not surprising that a senior shareholder, on the board, loans money to a small corporation that needs liquidity. I own shares in MLR, which recently got financing from Pala Corp, who owns about 50% of the total shares in that company. If you see the change in the COQ credit structure as part of a plot for Morrison

[Eagle100]

I agree, it is not surprising, that senior shareholders loans money. However, if you own 80 % of the company, and you want this company to survive, why do you ask for a interest rate of at least 13% + 8%? 21% interest rate, when money costs almost nothing, this would kill a company even under good market conditions, the intention is very clear. The Morrissons took from those, who own the minor

[fagiani24]

EXACLTY. Many of you here are banking of the Major stake holder to do miracles with this company when he alone is sucking this company dry.

[fagiani24]

Since January 9th 2015, over a year ago......Not one insider has bought a single share.  Nobody seems to be backing this one. Q4 will not be out till April 30th.

[westcoast1000]

The insiders own 85% of the total number of shares. Recent employees and others got options set at .14 last year. Why not disappear and have your melt-down on some other penny stock board. You are really tiring. I hope you feel good about selling at .02. 

[fagiani24]

The insiders do NOT own 85% here, that's a false statement. And don't worry my share are up for sale, I will be out of here when my remaining 400,000 shares are gone.

[westcoast1000]

Morrison contributed all the assets that comprise the company, genius. 

[bechky3]

whine.... whine.... whine..... such a downer!  you're not made for this!

[fagiani24]

Nobody here is whining. But, reality will set in with everyone who keeps positive on this one soon. Nobody hopes it takes off more than me, I just see a dark cloud ahead.....guess we will see