What's next?OK, so we have a delisting review - that's bad.
DZR says it will pass the review and remain afloat. Does anyone with knowledge on these matters have any insight. Share prices are at a new low, so the market is not impressed. OTOH the market often over-reacts both up and down.
So far DZR has slowly moved into oil - very slowly. They have major cash flow problems and they have major problems in producing oil - low volume wells, water and sand problems, the only thing missing has been a plague of locusts.
They have acquired prospective oil lands, and yet they can't seem to get anything going. On the Humboldt Capital side, management seems to be doing fine, in that they are making money and DZR is a small part of their holdings - less than 8% of assets last I checked. You would think that it would be to Humboldt's advantage to turn this thing around, and yet maybe it's not that important to them. Certainly the debenture deal favours Humboldt in a big way and will leverage any turn around, if it ever happens, to their benefit. If DZR sinks I believe debenture holders sit near the top of the heap for claims on assets. Either way common equity holders are at the very bottom of the pecking order.