Spyglass Resources Corp SGLRF

TSX Delists SGL

[darkstream]

TSX announced today SGL is permanately delisted from trading -only hope is that the OTCPK under symbol SGLRF will permit trading? These are the US Over The Counter Pink Sheets where garbage shares are speculated on

[skygarden]

I took a quick glance on Ernst & Young's site and in Williams Kennedy's affidavit  I see that Eagle did want to buy out the rest of Dixonville, but the sticking point with the Lenders was that Spyglass wanted to retain some of the proceeds of the sale and not use all the proceeds to pay debt down so the deal ultimately fell apart.   The Southern Alberta properties also had

[halkirkbob]

Earlier in the year raging river had interest in some of their property around consort...deal fell through when NDP won election

[quesea]

Yes, shame about the NDP ! Otherwise this would still b a $2 stock, the BOD would not have been crooks (who probably voted small c conserveitive) & oil would still be $90/bel ?????  KC

[Want2Cit]

I'm not a big NDP lovere but really??? You're going to blame this on the NDP? This was going to hppen no matter who got in!!!!

[darkstream]

got a reply from E&Y -they said the Receiver Manager is running the normal operations of the company until the assets are liquidated -this means these scum bag directors which resigned are still working on a contract basis until liquidation -what a beautiful thing? -I sent another email today asking if there was a possibility the OTC trading under symbol SGLRF could be reinstated or not

[Want2Cit]

So I wonder how long the receiver manager is going to run the normal operations if they can't find anyone to buy the assets? Spyglass had no luck in selling anything so what's the chance of them selling anything in the next short while? If they don't get a sale, will they just shut everything down and wait until they do? I know the central area is losing money everyday, so how long are

[halkirkbob]

I never said the NDP was the reason for what happened to spyglass. I said raging river resources was going to buy part of their central property, but the NDP won and they backed out..

[halkirkbob]

As far as I know...keep operating... they put compressors on a bunch of their wells in central and got production up...they sold consort.

[Want2Cit]

They were advised to put compression on them two years ago but the operations supervisor wouldn't do it. Another poor decision by upper management. Putting compression on now was like closing the gqate once the horse got out.

[Kherson]

There are two issues that stand out here, SpyGlass did have the opportunity to remain solvent by selling the rest of the Dixonville to Eagle and more importantly, the Zombie Directors failed in their duties to protect the shareholders. There is now no doubt in my mind that SpyGlass was formed only to enrich the management and the BOD at the expense of the shareholders. Sadly, the ASC has yet again