GREY:TBTEF - Post by User
Post by
dangoodon May 31, 2016 2:24pm
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Post# 24920103
Liquidation analysis
Liquidation analysisIf and when you read the financial statements you will find the debentures fully covered. I would rather they were fully covered by cash like TransGlobal Resources but they are not. They also have no trouble paying interest on their debt. I can also pick up El preferreds with a 5.6% yield covered 10 times over by cash and securities. This is where my big money is. Twin butte said they could break even with oil at $45 so I hope a deal is done. But it would have been announced by now so that is why I see another extension. Like with Lre. At 10 cents on the dollar this is high risk but the payout should be good. I can wait for news.