RE:RE:RE:Petrus numbers outPRQ blew up the second lien debt holders at 30 cents on the dollar, then did both a recap, a refinancing with an insider and vended in a non arm's length property. Bad on them for screwing the debt holders and the company in general. But you have to give a little respect back for the fact that they put their own (family) money in, got production numbers up and the company is financially solvent now. If the second lien holders kept the stock they would be more than even. Unless I missed a rollback.
regarding reserves I don't think the street trusts YGR numbers. Too many missed targets and revised type curves. I think that was what caused NBC to leave the banking syndicate but it's not like they said it publicly. And they left the buy recommendation in place, lol.