GREY:PRBEQ - Post by User
Comment by
westcoast1000on Dec 16, 2016 2:05pm
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Post# 25611431
RE:RE:RE:AGM
RE:RE:RE:AGMI cannot imagine how the company would be allowed to go bankrupt, given it has oil and gas production, oil and gas leases, and well services that are in demand, and is 80% owned by the board chair.
I read all the financials and management outlook carefully. I was dismayed but not too surprised that the big $45 million whack we owe was used to pay out Morrison his $10 mill and also fund company operations, including capex in 2015.
While they have a lot of debt, they have assets and a much higher oil price outlook than six months ago. I think we will continue, but we have to pay attention to many aspects of this company.
My advice: write polite letters to Morrison, Murphy and Guidry asking clear specific questions. And keep writing. Every unanswered question is documentaiton.