Bridge Resources Corp V.BUK

Management Change

[cfhasib]

Suzi Budge, executive director of the Idaho Petroleum Council, said the resignations were expected."The company is transitioning from a focus on exploration to a focus on development, and these changes reflect that," https://www.istockanalyst.com/business/news/5429438/slate-of-management-resigns-at-payette-county-s-natural-gas-driller

[Bob_Brant]

That is just an excuse...and a bad one at that.IF they really wanted to transition they would have spun the properties out into a separate entity.It's impossible to do anything when you are cash starved.Bob

[cfhasib]

- The cash starved issue is very obvious, its a no brainer that they cannot proceed without further financing, so the point was pretty obvious- Why would they spin off to a separate entity when the commodity and the minning lands are the same? Transitioning from explorer to producer doesn't require different entity unless they found some other commodities and/or the location is physically far

[Bob_Brant]

Jsut speculating...if they spun off the UK properties and debt, a bank may be more inclined to fund the Utah work.since it would then be a clean slate...I'm not a finance person so this may not make any sense.

[TheJesus]

How about a lawsuit against Perenco? They managed to fuckbuk out of 20 BILLION cubic feet of gas for 9 million dollars by not pumping it in the first place. Now that they own it they still won't pump it? Wake up white people.There may be more than one fox in the henhouse.If buk goes broke will perenco only have to pay 5% to the bank instead of 20% to buk? Maybe have a deal with another company

[TheJesus]

I have heard many allegations of Perenco environmental infractions and also that they are protected by the government. These are only allegations and only if they were to be proven true would I report it to any other media.