RE:RE:RE:RE:RE:RE:RE:RE: Article... A JOKE these BB ppp wrote: Your wrong again, TBE was still a going concern. Plus don't think for one minute the Ad hoc didn't have that covered.
But like you say Management was the wild card. They didn't feel the company was worth saving. Actions speak loader than words.
TBE is definitely a going concern right now, with the WCS price of $52.18/bbl, which is alot better than the $26.99/bbl, a year ago. But this has been a very slow climb in oil price, since that time. Too bad that the sale effective date is December 1st, which means we aren't seeing the benefits of these higher prices: the new purchaser will get those benefits.
I don't know what access to cash, the Ad Hoc group had. But I believe that it would have been in everyone's best interests, if some form of additional funding, would have been obtained. And shareholders should have been willing to provide some funding, if they wanted to save the company. It could all have been sorted out, in some sort of CCAA process.
Management sure didn't help matters. Not sure why, as some of the management had alot of money invested, when they bought in at overly high prices. I guess management people in Calgary make too much money, that they can take the proceeds from one company package, and buy into some other company, for a new job.
Of course when things all collapse, they are looking out just for themselves, to try and guarantee some employment, in a new firm. So everybody else gets pushed aside, in the race to the exit door.