Rooster Energy PRBEQ

AGM

[Butsko1]

Well, if they dont get financing, bankruptcy ...not a good day...

[fagiani24]

After reading the news about th AGM I'm saddened to say this company is going to zero.

[redgreen66]

Do you figure? I know that the mentioning of Seaport is probably not a confident sign. I could also see it as more of a Plan B too in the event there is no 11th hour plan for the debt. Not really to sure what to think. 

[fagiani24]

Plan be would be just as bad. Plan B would probably be issueing of billions of shares to debt holder, which would generate a 1-500 or 1-1000 split in our shares which would make them worthless. Someone mentioned why are not selling? SP to low, don't matter anymore.

[redgreen66]

Fair enough. It's certainly possible that would be how things play out. Or possibly other alternatives due to restructuring.  But more important for me today is that someone is buying. And I would be interested to find out why. 

[westcoast1000]

I cannot imagine how the company would be allowed to go bankrupt, given it has oil and gas production, oil and gas leases, and well services that are in demand, and is 80% owned by the board chair. I read all the financials and management outlook carefully. I was dismayed but not too surprised that the big $45 million whack we owe was used to pay out Morrison his $10 mill and also fund company

[fagiani24]

Westcoast, have a look at the last 2 years of Anderson Energy and where they are today. Almost an identical path and story. I would be surprised to see the exact same outcome. You can write and call all you want, only response you will get is them telling you to look at news and press release as legally insider trading laws is the perfect excuse for them not to tell you JACK S---.

[Olive777oil]

I take this discouraging letter as a warning one. It is the first time that they talk about bankruptcy. But I am not surprised at all because the deadline is so close and no solution so far.

[fagiani24]

Agreed. Easier for them to shut the doors after collecting huge salaries and open a new company with investor money and keep the trend going.

[Olive777oil]

I feel bad to see the huge salaries that they have. I would really like that their salaries would be decided by the shareholders (according to the performance of the company).

[westcoast1000]

I agree. ! mill for the CEO, Murphy, seems insane given the size of this company. But, you have to agree we are still in business. That is another reason why we will not go bankrupt. Morrison Well services is a well-known company with loyal long term employees. 

[Burnerman]

For the security holders to push them into bankruptcy at a time when things are turning around in COQ's favour would not make very much sense. The company has proved they can pay down debt and that was when oil was below $50. They have also reduced operating costs. I doubt security holders would push the company into bankruptcy to get .20 cents on the dollar. It does baffle me why they would

[fagiani24]

So they can take over assets recover their money. Right now they see their money being spent on high salaries.

[Burnerman]

Bankruptcy creates a lot of issues and paperwork for the security holders. At the end they only get pennys on the dollar. The security holders know that oil is at a turning point and will be going up in the new year when reductions from OPEC come into play. This will increase revenue for COQ. Extending the waiver for 6 months, in my opinion, would be a smarter approach. This will give the company

[Olive777oil]

I am just trying to figure out why they have never mentionned the word "bankruptcy" inside the other press releases before and now they are clearly mentionning it? Is it because the bankruptcy is much more probable now? Any idea?

[BrokeNewbie]

I have some low ball bids, but not getting field. Shouldnt ppl be selling if its going to hit zero?

[BrokeNewbie]

*filled

[redgreen66]

Funny I was just thinking the same thing. It's been steady all day. Mind you insiders own what 80% of the shares?