Annual meeting QuestionsGreetings all,
I recieved my notice for the Annual meeting, with will be held on August 27 at Torys LLP Suite 4600 525 - 8th Ave Calgary at 10 am.
I do not expect to be able to attend, although I may literally fly in for the day and go to the meeting if I can manage the scheduling.
If not, I hope it will be possible for someone attending to ask some questions based on the information package for the meeting.
Perhaps the biggest issue is addressed in the discussion under "Going Concern" in the materials.
It clearly states RPT will need some kind of financing to proceed further. That could be equity, debt or JV's among others. I would like to know their plans for financing and partnerships, in particular for getting the non-producing wells prioritised and reestabilished.
Second, RPT has been relying on a loan from board members, which seems to come due on December 31 2014. It will still have about 1.5 million outstanding on the loan.
What are the plans for paying this loan? Are they going to roll it over into another loan?
Finally, are they at risk to any legal action due to the final unresolved financial claim against the firm from 2012?
If someone has access to the president to review these questions, or has ideas about the answers, or can ask these questions at the annual meeting, I would appreciate hearing any responses.
WC