Twin Butte Energy Ltd TBTEF

Debentures vs Commons

[uwinsome]

Even if this deal was voted down by the debenture holders and a new deal worth the same comes in and wipes out the commons and gives the whole shooting match to the debenture holders, they would still only get 39¢ on the dollar.

This is a shittie deal all in all for stakeholders except management the chinamen and the bankers.

The problem is that TBE was for sale for almost 7 months. Oil has near doubled off its lows. If there was a better deal out there it would have been looked at hard. This was not a sale arranged while nobody was aware of TBE's intentions. 

The price paid per barrel is really low. Don't you think that if other players thought so, they would have jumped? It's either that the assets were not deemed as being as valuable as we thought, but also the decommissioning expenses played a big part.

The deal in all likelihood will be voted down. But those hoping for a REALLY good deal in its place are going to be disappointed.