Bullboard - Stock Discussion Forum Traverse Energy Ltd TVETF

Energy Oil & Gas E&P

Traverse Energy Ltd is a Canada-based company. The Company is engaged in oil and gas exploration, development and production activities. It conducts its operations in the province of Alberta. The Company’s assets are located in the Carbon, Turin and Greater Coyote areas of Alberta as well as in the Duvernay land base located in the Buffalo Lake, Chigwell and Pigeon Lake areas of Alberta. The... see more

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Traverse Energy Ltd > So...what happens now?

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Post by Tim1234 on Jan 13, 2020 9:20am

So...what happens now?

Hoping someone could explain to this neophyte what happens now. I've never seen this.

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Comment by Theconsortman on Jan 14, 2020 10:57am

What do you mean? The receiver will liquidate the assets (which have already been shopped) for whatever they can get. Sometimes the receiver will milk the meagre cash flow for as long as they can. Once the cash flow has been milked the assets will be sold and the debt holders will get first crack at money. Likely they will not be made whole. The equity holders will get whatever remains which is ...more

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Comment by RHertig on Feb 14, 2020 1:37pm

Pretty amazing situation. If they could get $36 an ancre for the land debt would be gone. $75 and there would be 6.5 million for shareholders. The Canadian oil market is completly insane.

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Comment by ValueCat on Feb 14, 2020 2:53pm

who is going to pay a penny more than the value of the debt? if that.

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Comment by Theconsortman on Feb 25, 2020 2:50pm

Apparantly they will only pay 3.5 MM

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Comment by Tim1234 on May 07, 2020 12:48pm

So...when does this thing get erased from my account so I don't have to see it anymore lol?

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Comment by Theconsortman on May 24, 2020 12:17pm

Best to keep it there as a reminder. I have some defunct mining companies that have been collecting at the bottom of my statement for 10 years lol. This stock is a good reminder on the dangers of playing in the junior market. These guys were doing OK until they decided to take a big swing on The Duvernay. Cockiness? Desperation? Who knows.

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