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Bullboard - Stock Discussion Forum Rooster Energy PRBEQ

"Rooster Energy Ltd is an oil and natural gas exploration and production company which is engaged in the acquisition, development, and exploration of petroleum and natural gas and the delivery of well intervention services. It provides plugging and abandonment services in the Gulf of Mexico. The company operates through Oil and natural gas, and Well services segment."

GREY:PRBEQ - Post Discussion

Rooster Energy > That's a bluff!?!?!
View:
Post by Aquanaute on May 31, 2017 9:08am

That's a bluff!?!?!

Maybe they dont want the bond holder to see the financial? Its a real joke... we dont have the money to do the financial...common you kept millions on interest payment and generate positive money cash flow if you remove all the impairment and depreciation. Suppose to get a 22millions payment from decom work... theres something i'm missing! But even a grade 4 student would find a better reason for not doing his homework!


the Company remains under significant cash constraints and has been unable to complete its requisite financial disclosures within the mandated time frame. Additionally, the Company opted not to make the interest payment due on May 1, 2017 under the terms of the Note Purchase Agreement. 
Comment by Burnerman on May 31, 2017 1:13pm
I agree. Something smells here to high heaven. They delayed the decom work to make first quarter look good. They lowered costs and paid down debt before. With the payment due first quarter for the decom work there should be no issue coming up with a plan, pay down a little debt and secure financing. What about the plan with the bullet points?  They were close to a deal then but not now? How ...more  
Comment by BrokeNewbie on May 31, 2017 3:44pm
Yeah im in the same position, dunno to jump ship or hang on
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