Rooster Energy PRBEQ

The deadline is around the corner

[Olive777oil]

Why did they wait so long before hiring a financial company to help them? Just 2 weeks left and this is during the holidays season. It does not make sense. Good luck.

[Burnerman]

I'm guessing they thought they had a deal in place and it fell through at the last minute. Let's hope the new company is not afraid to work a little overtime during the holidays and put a package together. 

[Burnerman]

If they were planning on closing the doors there would be no point in mentioning the annual meeting for 2017 or hiring a financial consulting company. I believe they had prior contact with this firm and are confident they can put a package together in time. I hope I'm right, for all of us.     GLTS

[daytrader112]

This post has been removed in accordance with Community Policy

[Burnerman]

Yes you are right. If I would have put my money into Aphria instead of COQ I would be retired by now. I am looking at losing $70,000 if they don't get financing. Even if they do the odds of this ever going to where I paid for it is slim to none. The question I have is, why hire a financial company with two weeks left in the year ( basically one due to holiday period ) if the plan was to close

[fagiani24]

What really worries me is this. Same thing happened with Anderson Energy, they hired a firm to a financial plan. Outcome was they issued debt holders billions of shares, made shareholders stocks worthless but the management kept their high salaries and company kept on ticking. Stock price was slashed 1-1000, my shares are now worthless. Another reason I will never buy another stock with any risk

[Burnerman]

I don't know if that would happen in this case. Chet Morrison would be slashing his own throat  because he owns the majority of the shares. It's the same reason I thought this one was safe. I was very wrong. He is not stuck though since he received 10 mill for joining all the companys together. I'm at a crossroads now on this one. I noticed TD Sec sold what they bought the other

[Olive777oil]

If the company issues billions of new shares on the market, Mr Morrison will also see a huge dilution.

[redgreen66]

I was thinking this as well. Same goes with the large payment of salaries as this wouldn't look good right before a bankruptcy if the whole mess was taken into court by shareholders. My only logical explaination was the same as yours where financing was arranged, the deal feel through or isn't guarenteed and this is some insurance. At this point I am not willing to say all is lost but

[Olive777oil]

I don't expect any financial deal during holidays when most of the banks are almost closed.

[westcoast1000]

The reason we had to accept a waiver to the terms of our previous financing was because they sold their hedges. I am confident hedges were required under the previous terms. That proved to be a wise and profitable move, but it cost us on interest rates substantially. If they can re-hedge some of their production at $52 US for a bbl of WTI, then we can do not need the waiver. If they can pay a big

[Burnerman]

Mr. West. If what you are suggesting is correct that would be promising. If you know this then management would know this as well so why mention the "b" word? In the past couple of releases they used the term " going concern ". They upgraded it to the "b" word this time. I am normally optimistic but this disturbs me. All things are pointing to a positive future but

[Olive777oil]

This company is leaving us in the blackness as usual. It seems like they want to wait until the last minute (during the Holiday season) to inform us about the survival or bankruptcy of the company. I see it as a lack of respect for the shareholders. I am sure that now the management must know very well the future of this company and none of them wants to buy a single share at 0.02. So it gives me

[billbob]

Burner im new here but been watching for a while. Dont know whether to jump in now or run because as u know this is an all in or fold and leave. However some CEOs would f-----k there mother if they thought they could make a buck or two. Ive played companies corrupt as they were, and the stock was being manipulated for four years, it was so blatantly obvious. Every day at 5 to the hour of closing

[daytrader112]

This post has been removed in accordance with Community Policy

[Burnerman]

Could you brief us a little on this one?  There are probably a few of us who don't wish to participate in a monthly plan.   Thanks

[fagiani24]

Westcoast, where are you getting this information? It's great to be optimistic but statements like that are misleading to those who read these posts. You have no proof and impossible to have proof on what you have stated. The reason they took the waiver is because they don't have funds to pay off the debt. If what you said were true, they would not have hired financial advisers to try and

[Sheperd]

I do understand the same as Westcoast, MArch 14 release : Upon closing of the first amendment, the company terminated all existing commodity derivative or swap agreements and will apply the proceeds of $4-million (U.S.) to reduce the principal balance of the notes, with the rest to be used for general corporate purposes. they had to get the waiver, beacause they sold the hedge when oil

[Burnerman]

I sure hope for all of us that you are right. Oil is climbing in price and I hope the note holders are taking notice. Closing the doors on a company that has made it this far, paid down debt and lowered costs deserves a little more time. Besides, they don't want the headaches that come with liquidation. They just want their money. Outlook for oil looks promising and when Trump gets in he will

[fagiani24]

Sheppard, that's the same song you sang last year when you were predicting you were going to retire with this stock after a week.

[westcoast1000]

If you think about it in terms of the price of hedges, they were brilliant in getting their first waiver in March, as Sheperd says, and then getting another one at the end of June. Oil prices are now $20 higher than in March and perhaps $10 higher than in June. Hedging some of their production now (which the banks will insist on) is vastly better than at prices that were perhaps decadel lows. So