RE:RE:RE:RE:Brent up ...ferret, thanks for pointing out that IAE's BoD agreed to Delek's purchase of a 20% stake as a first step in screwing shareholders and unsecured noteholders. lol.
ferret_ca wrote: fair enough on the past tense, however the low price continued for 3 days after tax loss selling, thus not the reason after the 28th. imho people have moved some money back to north american production, plus storm season in the north sea, plus obviously low prices. at least it held .55 and looks ready to move up a bit.
delek is an insider and HAS to report any buys or sells of iae stock. if they are buying they are not in compliance, maybe they bought today but i doubt it, but they definitely have not been adding since their original buy up until at least the last couple of days. they bought that position to get 2 positions on the bod and access to all info and the banks. they have what they want and will act accordingly. you better hope the oil price is much higher post stella because if iae breaks covenants next time, delek will take over debt (rbl) shareholders and most liokely senior note holders (unsecured) will end up with zilch, nada, nothing. delek will walk away with all of iae's assets and the debt for 86 mil. cdn.
btw deleks 2 iae board members , own 0 shares of iae , at least up til now. ask yourself why would they not buy any at these prices???? lee bought in nov so there was no blackout after the deal was done.
cheers and happy new year ferret