Prairie Provident Resources Inc T.PPR

3rd interim extention

[filefish]

Obviously, they are not waiting on a new boomer well to come on stream.
If PCEP wanted to buy out the remaining shareholders they could have easily done it by now.
The most likely scenario is that these extentions are waiting on a 3rd party to work out the details and financing (with acceptable terms the lender) to acquire PPR, without forcing a bankruptcy. A new timeline of 3 weeks has been set.
Anyone else have thoughts on how this saga ends?

[Jakarta1]

No idea. Something is obviously being worked that they anticipate will be completed within 3 weeks. If PCEP wanted to force a default they could've easily done so already, so there's that.

[filefish]

White Tundra (Shubham Garg) have been quiet for the past several months.

[SilverSam]

My biggest concern right now is that management and PCEP may do a debt-for-shares deal, in which tens of millions of shares are issued to PCEP in exchange for the elimination of debt held by them.  At the current firesale price, the shares would cause another massive dilution of shareholder value.  The possibility of this occurring keeps me on the sidelines, rather than adding to my

[filefish]

SilverSam, your greatest concern just became reality. Apparently this was their only forward. At least shareholders are getting a chance to participate in the rights offering (if they care to dig themselves into a deeper hole). PCEP must believe there is still  value in the Michichi properties and that their planned drilling targets will be profitable. 

[SilverSam]

This is much better than the alternative, which could very well have been bankrupcy.  Like PCEP, we are all going to have to dig deeper into our pockets if we want to see a return on our current investment.  Will it pay off?  Only time will tell.  I must add, however, that I am glad that I stayed disciplined and did not add to my position during this waiting period, as