GREY:PEYTF - Post by User
Comment by
yoursbraon Sep 16, 2015 8:59am
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Post# 24107888
RE:Oh Oh....not good!!
RE:Oh Oh....not good!!Al42 wrote: Press release from CNW Group
Parallel Energy Trust Announces Update on Bank Facility
Wednesday, September 16, 2015
Parallel Energy Trust Announces Update on Bank Facility
08:25 EDT Wednesday, September 16, 2015
CALGARY, Sept. 16, 2015 /CNW/ - As previously announced, Parallel Energy Trust ("Parallel" or the "Trust") has requested an extension from Parallel's lending syndicate of its US$165 million credit facility which expires on September 30, 2015. Based on discussions to date, the facility will not be renewed on the same or similar terms and conditions, and Parallel is working with its lenders on alternative arrangements. Parallel's Board of Directors is continuing to explore strategic alternatives as part of its previously announced strategic alternatives process. There can be no assurances that alternative arrangements will be agreed to with Parallel's lending syndicate or, given the current commodity price environment, that the strategic alternatives process will result in offers in excess of the Trust's current indebtedness.
Looks like that Kherson pumper is keeping his perfect track record alive. Has he ever bought a stock that didn't go to zero ?