RE: cash Copy and paste from my post on the SND board:
Terrex Newsletter from yesterday (VERY BAD):
"The Company’s EOR projects are now at a point where additional capital is required to advance these projects and realize on their potential. The Company is actively exploring various financing options to fund these capital programs." (This was from January, no update)
"Production for the three months ended March 31, 2012 decreased from the comparable period in 2011 primarily as the result of down-hole mechanical problems at a significant gas well at Two Creek. Well repairs will be delayed until natural gas prices strengthen."
"As expected, the Company has continued to incur losses in advance of the implementation of optimization and EOR projects."
https://www.terrexenergy.ca/images/stories/Information_Centre/News/pr_05_23_12.pdf#zoom=100
The worst Part I've found is that looking at the unaudited financial statements, Terrex had $4,069,000 at Dec. 31, 2011 and $1,756,000 on March 31, 2012. At this rate, without financing, Terrex wil be bankrupt by the end of June.