Rooster Energy PRBEQ

Financing

[Burnerman]

If I am reading right COQ needs 54.7 million to be completely debt free. They gross just over 60 million per annum as shown on TD Waterhouse.  They still have the payment or final payment due ( I can't find any info on this contract ) on the decommissioning contract. This payment coupled with the considerable price increase in the barrel of oil since 3rd quarter should be more than enough for them to secure financing. So the big question is,  why is it taking so long to secure financing?

[fagiani24]

Lenders look at the history and they also look at who holds the debt right now......we all know who that is. It's a big risk to any new lender. However, like you I do hope the debt is cleared but I'm not confident.

[Burnerman]

Since 3rd quarter oil barrel price is considerably up. This company has lowered costs and increased revenues. This coupled with the payment due on the decommisioning contract plus the good faith downpayment of 2.5 million one would think securing financing would not be an issue. With the possibility of oil nearing $70 by the end of the year wouldn't it make more sense for the lenders to, at

[fagiani24]

All we can do is hope. However, they could also move in, seize assets and run with the assets themselves and sell off piece by piece. Hoping for the best but when you are dealing with ownership like this you never know.

[Papagallo]

Hope is NOT all we can do, in fact it is the least we can and should do. Intelligent and diligent investors need not accept further nonsense from this lot. A class action suit is our best option to leverage our collective minority interests, shine a bright light, and take control of our own fate rather than remain silent when we purchased shares in good faith.

[fagiani24]

Papagallo. You know as well as I do, when you are dealing with this type of situation it's a never ending battle that takes a lot of money to fight. We all knew there was a huge debt prior to investing. When we invest in a company that is mostly privately owned it's a tough fight. Not the first time they torch investors, won't be the last time either. You and I have disagreed a lot on

[Papagallo]

I am not bashing you or anyone...class action lawsuits require zero dollars...they are routinely launched on contingency if there is apparent merit. The existence of debt has never been at issue here. The issue is and has always been malfeasance.

[fagiani24]

I disagree.