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LGX Oil + Gas Inc ROAOF

LGX Oil & Gas Inc is a junior oil and gas company. The company is engaged in the acquisition, exploration, development, and production of oil and gas properties. Its projects are in Southern Alberta. The company invests in all types of energy business-related assets, including petroleum and natural gas-related assets, gathering, processing, and transportation assets located in Western Canada. LGX is dedicated to delivering growth in reserves and production for its investors through land acquisition, exploration, and development of oil and natural gas resources.


GREY:ROAOF - Post by User

Bullboard Posts
Comment by yikes1on Mar 29, 2009 3:19pm
219 Views
Post# 15880229

RE: RE: RE: RE: The integrity of the media

RE: RE: RE: RE: The integrity of the mediaSo, does Oilexco not have to agree to take ONSL out of administration to sell it to Premier for $1?  Or is this lost in the details that ONSL shares all belong to RBS now?
Obvious speculation, but perhaps RBS and Oilexco have a deal in place that the rest of the debt will be written off between them if they agree, allowing Oilexco to refinance and, ultimately, wipeout the shares and start fresh.
Who knows, some of the ideas floating on here seem far fetched, but at the sametime, the deal in place does not seem like it would get approval.  As Robbie stated, if RBS is in agreement, there is a lot of votes going against shooting plan A down, but if I was an unsecured creditor and was getting nothing, why wouldn't I role the dice and vote against it?  I could care a less if shooting down plan A meant RBS would get less.  Then again, perhaps most of the unsecured creditors are clients of RBS, and have a good working relationship.
Bullboard Posts