GREY:EENZF - Post by User
Post by
RBCHY7on Feb 22, 2013 10:50am
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Post# 21028568
From Warren
From Warren He confirmed that Southern Cross pushed to convert the debt to equity (see more upside). EEN wanted all shareholders to have the opportunity (including management) to also increase their holdings as liquidity is poor at these levels. Management is currently in black-out till end of May so they cannot buy in open market but can exercise rights. The money raised over and above the loan will be used to start-up rigs in Columbia and Argentina.