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Estrella International Energy Services Ltd. EENZD


Primary Symbol: EENZF

Energy Oil & Gas Drilling


GREY:EENZF - Post by User

Estrella International Energy Services Ltd. > Estrella Files Preliminary Rights
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Comment by RBCHY7on Feb 22, 2013 10:13am
122 Views
Post# 21028269

RE: RE: RE: RE: Estrella Files Preliminary Rights

RE: RE: RE: RE: Estrella Files Preliminary Rights

You're bang on.  The prospectus states that the proceeds will be used to pay back the $10,000,000 Ringo LP loan (Southern Cross).  Southern Cross will exercise their rights which will basically be $10m.  So they convert the debt to equity and increase their ownership % all at the same time (cause little guy will not exercise).  Plus rights will be trading on the exchange so they can buy them all day long probably around $0.01 per right.  They must see the light at the end of the tunnel to do this cause they were getting 12% interest on their loan.

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