Zargon Oil & Gas Ltd T.ZAR

RE:RE:RE:RE:RE:RE:Zargon hires Macquarie

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"I never wanted any equity in this steaming turd..................

I just wanted to preserve seniority for as long as possible and accept a PIK in March."

Sounds like you lost without your own will your seniority virginity... LOL!

That will teach you to keep on playing with fire! Never wanted any equity... You thought you would win them all?

Most brokerage firms consider convertible as equity and for good reason. If anyone has been able to stay awake long enough to read through one of these indentures it becomes quite obvious that your level of protection vs equity is extra thin!

Now, to Pablo's point, if this helps in any way with a corporate transaction it is because one reason alone: "change of control clause in the indenture".

Yup, so no need to make an offer at par to debbies in cash or to ask them to vote on an acceptable deal.

If they sell the company now, it will be a disaster and forget about ever recovering par on your debbies.

Instead of whining continually Rad10 about getting PIK interest and a few more pennies, you should put pressure on management to NOT sell the company at this time. That is how you could end up saving your bacon.

It is time for Hansen to fix the problem, turn this around with the savings in interest that we provided and not jump ship like a rat.

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