Bridge Resources Corp V.BUK

Q3 MD&A out = effectively bankrupt.

[CalifDreaming]

Simply horrific.  Negative working capital of $63MM.  BUK is all but BK - only a slim hope remains.
Lending syndicate to inform BUK if they'll give em another shekel this month.  With "top" management bailing like rats from a sinking ship, odds of BUK surviving are slim and none.
Sell - anything above $ 0.00 is a big win if you still own this paper.

[sjaplo]

Well I could ask you to post the link or perhaps copy and paste, but I think you are telling fibbers as I see nothing on Sedar.

[Bob_Brant]

It is in Sedar now...Oct 7 MD&AStill I hold out hope...why settle debts with Paramax if you are going under anyway.It's up to the lending syndicate.IF they recapitalize we may get a small portion of our money back.

[cfhasib]

Today there will be public hearing in the planning and zonning comitte of Payette county, I think the decision of the CUP Meterstation permit's Appeal will be delivered, not sure though, the payette county didnt specifically mention that in their website, but to me if it does end up being the case, it could be the break or fix day for BUK. I think we still have some hope left with this, I

[sjaplo]

Ok then, first my apologies to Calif for doubting him/her.Next I guess it depends on whether you are a glass full or glass empty sort of person. It will be interesting to see what happens with the share price after the decision is released.Is it possible the lending syndicate requested a change in management as a condition of even considering looking at refinancing?

[CalifDreaming]

<>Almost certainly not.  The rats left a sinking ship in shark infested waters.  You should take their cue - they didn't even bother to milk BUK to the bitter end, so it shows what a basket case it really is.Chances of anyone being silly enough to finance a marginal discovery with nat gas at $3.50 mcf are slim to none - even without the huge debt overhang.This will likely go

[Gasman16]

Again, anyone know why Durango is producing - as BUK is entitled to revenue from this per the sale contract earlier this year?  That was suppose to be used to assist with debt payments yet we hear nothing on it.......anyone with news please share as any revenue stream for BUK is vital.

[cfhasib]

Gasman, Bridge has always kept it's stockholders in the dark when it came to Durango, Ed's decision to sell their reseves for a mere $8mil was even worse than GW Bush going at war with Iraq. From the latest update, Bridge executives have said they have "No set timeframe" as to when Durango can start passing on the revenues, its anyone's guess, Durango has its on issues per se

[Gasman16]

Thanks.....I see on their website it still says this year, but who knows with BUK."Bridge anticipates that production from Durango will resume later this year."

[All(in)Idaho]

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