Twin Butte Energy Ltd TBTEF

RE:RE:You are mistaken PetroExplorer

[HCI_STEEL]

PetroExplorer wrote: Ok, I can see where issuing some shares to debenture holders, to redistribute the meager funds from Reignwood would get the debenture holders a bit more money.  However, this isn't the face value redemption that was promised in the original debenture agreement, in the event of a change in control, so is still lacking.

I was thinking of a more elaborate plan:

1.  Debentures converted to shares, to issue 1.4 billion of new shares.  This wipes out the debenture debt.

2.  Rights offering to existing shareholders, to issue some shares and warrants, to raise some cash.

3.  Sell some preferred shares to debenture holders, that pay a lower interest rate, and raise some additional funds from that.

4.  Use proceeds to pay down some bank debt, and get a new bank line.

I am not that interested in a quick division of the cash, from a low-ball offer, at the present time.  There has to be ways to keep the company plugging along, to last a bit longer, until the price recovery.

Actually Step 2...reverse split lol