GREY:LSTMF - Post by User
Comment by
Harvick29on Apr 01, 2010 1:22am
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Post# 16947419
RE: PBN
RE: PBN
Three months is a very good rule of thumb, BUT in most cases we are talking about 6 months behind and with the truckers we are talking close to a million owed.
----------Original Message Posted 3/31/2010 11:04:21 PM----------
I'm really curious about how this could be possible. If its true they would have had to make a conscience decision not to pay their contractors. They are still managing to pay their dividend, prices for oil haven't fallen and they have more space on their line of credit so its not like they couldn't afford it. I guess the only way to know for sure is for them to get sued. I wonder if people are just complaining and they are very very slow payers. Rule of thumb is three months I believe for contractors to get paid.
Sidebar note if PBN split in two would it really be that awful? PetroCardium and Petrobakken pure play components along with Petrominerales would give Petrobank a clear cut entity in many popular emerging plays. Also I personally didn't get involved with PBN for the Cardium so if two companies emerged it would be much like the Encana split and unlock value. Hopefully.
Opinions Welcome.
NLR