GREY:RGVNF - Post by User
Comment by
Benditon Jan 12, 2011 1:58pm
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Post# 17960886
RE: HISTORY
RE: HISTORYWalter Storm financed Eurogas's (McCallen) obligationa s part of a secured loan to Eurogas.
As I see it, cash will flow from this well (and others) to the partners of which we hold 450 shares (45%) of McCallen.
McCallen is 55% owned by Eurogas and Wolfgang as CEO has an extention from Regent on his obligation to pay 2M Eurogas shares (unrestricted) plus $3M in cash and/or shares.
McCallen is also tied up in the Ukraine dispute so we seem to be secure as long as Aurelian doesn't cash call McCallen for more money. If that were to happen and Eurogas couldn't pay, Wolfgang would have to come back to us and secure cash. Then we could raise a convertable debenture to take out McCallen's 55%..
That would be a huge win for us!