Bullboard - Stock Discussion Forum Spyglass Resources Corp SGLRF

Spyglass Resources Corp is an oil and gas exploration and production company that conducts its operations in the Western Canadian Sedimentary Basin. The Company is a dividend paying, intermediate oil & gas company that trades on the TSX under the symbol 'SGL'. It operates oil and natural gas properties in Alberta, Saskatchewan and British Columbia.

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Spyglass Resources Corp > How long now?

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Post by Want2Cit on Dec 14, 2015 1:11am

How long now?

So how long is Ernst and Young going to run Spyglass? Why would they put money into a company that is losing money for very long? Will they eventually shut everything down or at least some areas?

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Comment by Kherson on Dec 14, 2015 4:34am

SpyGlass is now under CCAA protection. Far from putting money into the company, E&Y are actually making money as they have stopped paying the bills that were owing. Sadly for those who are owed monies, not only is that money most likely now gone, they have to now to continue on their business dealings with the company while under CCAA protection. Don't worry folks, E&Y will make money ...more

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Comment by darkstream on Dec 14, 2015 11:14am

How long what? E&Y are liquidators. They collect their commission and will eventually auction off the assets if there are no offers. First in line creditors might get 50% back on their loans and the rest including shareholders will get zero.

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Comment by Want2Cit on Dec 16, 2015 3:51pm

What if they are losing money running different areas and nobody is interested in buying them because of too many liabilities? How long are they going to pay operators and CEO's ? Do they eventually shut everything in and send everyone home and try selling it?

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Spyglass Resources Corp