Twin Butte Energy Ltd TBTEF

RE:wrong again frankiesteve... LOL

[HamSandwich]

Iamwcw wrote: the bank has not yet taken control... they have given TBE until the end of this month... that is hands off... they were lenient... at the end of the month, either TBE pays the due $85 mill, LOL, more likely LOL... TBE goes into default and then the banks can exercise all their weapons and demand repayment of ALL the outstanding debt and then the debs become immediately repayable as a default triggers that... so then it is over.  the banks simply boot out the management and put all the assets on the block... they will get near their due amount... the debs should get a bit... maybe $5 or so.... the shareholders will see a cease trade and they will then own worhless shares... the end...LOL

this stock is for dummies only...LOL

I still think the debentures have a good risk/reward profile.  Even if they get asset stripped by a bank I'm not as pessmistic at you putting it at 5 cents on the dollar. 

Owning the common here does't seem right as your only out is a buyout like LRE.

If there is a buyout the common holders will do well relative to the debentures in the sense that even though they should get 0 to make the debenture holders whole, in practice we know it never works that way.