Twin Butte Energy Ltd TBTEF

The Von Trapp Singers sing & interesting speculation occurs

[BobTheKnob2]

In the famous refrain from the Sound of Music plays in the background. . .

So long, farewell auf wiedersehen, adieu
Adieu, adieu, to yieu and yieu and yieu.

We only have two trading days left before the shares and debentures are de-listed from the TSX.

Meanwhile. . .in the stockhouse bull pen. . .

We have an interesting concept floated by Petro, Bojangle and the Old Fart talking about $60 oil. . . The weekly API Report issued earlier today shows a draw of 7.6 million barrels, compbine that with the OPEC agreement last week,  creates a reasonable target price of that in the short term as a result.

So then the idea comes about that maybe the debenture holders may get together and using their security to bring the company back from the dead. I am feeling all religious all of a sudden and don't know why. Of course that would also assume that the debentre holders could raise funding to pay out the other security holders, and of course Old Fart brings up the concept that lenders are starting to warm up to the idea of loaning in the oil and gas space once again.

This creates a more interesting speculation than was the case even a month ago.

As I think it was Petro that stated that the debenture holders are only entitled to the full amount of the coupon ($85 million or whatever it was + accrued interest). But the debentures do also contain a conversion feature. It is possible that they could be converted at par value, as stated in the original indenture. It may require some fancy footwork to facilitate, but I am sure that is a possibility.

This whole concept of restructuring, the creditors getting paid out, even if it means selling a couple properties to do so is not an unrealistic pipe dream anymore.

So that all raises the question of if the company actually does get delisted, is it possible to resurrect the corporate entity by either deferring the delisting or alternatively relisting with reduced requirements given the history?

It has the potential to be slightly different than most resurrections of corporate shells with trading history. I woulld be interested to hear viewpoints on that idea.