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Twin Butte Energy Ltd TBTEF

Energy Oil & Gas E&P
Twin Butte Energy Ltd is an oil and natural gas exploration, development and production company with properties located in Western Canada. The firm's operational assets have been sold to West Lake Energy Corp.


GREY:TBTEF - Post by User

Twin Butte Energy Ltd
Bullboard Posts
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Comment by uwinsomeon Jun 24, 2016 8:06pm
161 Views
Post# 24997556

RE:RE:RE:RE:RE:TD Comments On TBE Deal

RE:RE:RE:RE:RE:TD Comments On TBE Deal

"The only thing I can't figure out is why didn't Management file for CCAA bankruptcy protection when the Lender put them on a short leash and keep them at bay while they restructure their cashflow."

Don't forget that besides the bank liabilities, the common shares and the debentures, there are around $200 million in decomssioning liabilities. There is NO other better deal either for a buyout or restructuring out there. Bankruptcy might be a better alternative for debenture holders, but not common stock holders.

I do agree however that the management structured a deal in which they keep their jobs. Big bonuses will follow after we're all gone.
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities