MOMO'S BREAKOUT BOARD

[knulp]

ALERT DUNRQ 0.01 BPZRQ 0.03 WITH OIL RUNNING WAY UNDERVALUED!!! LOW FLOAT, POSITIVE EQUITY, GREAT INSIDERS PRESENCE, CATALYSTS...

DO YOUR DD BEFORE INVESTING IN Q STOCKS!!!


DUNRQ 0.01$ BPZRQ 0.03$ ARE TRADING AT A FRACTION OF THEIR NET ASSETS WHILE OIL IS BOUNCING HARD AND M&A EXPLODED WITH ROYAL DUTCH SHELL BID ON BG WORTH 70BLN$!!!...

There are 6 shareholders who own 85 % of the company (all 5 % owners)

Highbridge International, LLC Shareholder 5.00%

West Face Long Term Opportunities Global
Master, L.P. Shareholder 15.00%

Strategic Value Special Situation Fund, L.P.
Mardi Gras Ltd, Shareholder 25.00%

TPG Funds TPG Global, LLC., Shareholder 13.00%

Zell Credit Opportunities Fund, L.P.
Shareholder 6.00%

Blue Mountain Shareholder 21.00%

Page 24 of Court docket # 156

https://cases.primeclerk.com/duneenergy/Home-DocketInfo

http://www.firstenercastfinancial.com/news/story/62342-bankruptcy-judge-approves-june-9-auction-dune-energys-operations

Bankruptcy Judge Approves June 9 Auction for Dune Energy's Operations
Published: Apr 08, 2015


By Katy Stech


Lawyers for Dune Energy Inc. are preparing to sell the Houston oil driller's operations at a June 9 auction, after a bankruptcy judge signed off on the company's proposed sale timeline.

At a hearing Wednesday, Judge H. Christopher Mott set a June 5 deadline for bidders who are interested in the 32-worker company, which oversees more than a dozen drilling sites that sit atop an estimated 93.1 billion cubic feet of natural gas equivalent, according to documents filed in U.S. Bankruptcy Court in Austin, Texas.

Dune Energy officials didn't set a minimum bid price for the auction.

The company's sale could put it under the ownership of a more financially stable owner, but it would likely make its shares, which trade publicly in over-the-counter markets, valueless. Investment firms including Strategic Value Special Situation Fund, LP, BlueMountain Capital Management and West Face Long Term Opportunities Global Master LP own large chunks of stock, according to earlier court papers.

Even before the company filed for chapter 11 bankruptcy March 8, company officials reached out to 45 potential buyers, according to earlier court papers. Any purchase offer needs approval from Judge Mott, who agreed to look over the auction's winning offer at a June 18 sale hearing.

Wednesday's approval came after a prolonged battle over how money from potential lawsuits should be split among Dune Energy's existing debts of more than $100 million. Lawyers for Dune Energy's unsecured creditors didn't specify who or what could be the target of future, potentially lucrative lawsuits. Profits from those lawsuits could add to the pot of money that unsecured creditors share as repayment at the end of the bankruptcy process, they said.

Founded in 1998, the company pulls crude oil and natural gas from underneath more than 74,000 acres of land in Texas and Louisiana.

"[Dune Energy and its affiliates] have sought to acquire operational control of properties that they believe have a solid proved reserve base coupled with significant exploitation and exploration potential," said Chief Restructuring Officer Donald R. Martin in earlier court papers.

But as oil prices fell last year, so did Dune Energy's revenue. It took in $43 million in revenue last year, down from $55.5 million during 2013, Mr. Martin said.

At the end of the second quarter in 2014, Dune Energy failed to meet a requirement that was laid out in its borrowing agreement, causing it to lose access to millions of dollars.

Dune Energy officials cut costs and proposed a merger with California-based oil and gas driller Eos Petro Inc., which would have cashed out existing stockholders by paying them 30 cents per share. The merged entity would also take on responsibility for $106.8 million of debt that Dune Energy faced as of Sept. 30.

The merger fell through on March 4 after Eos was "unable to complete the financing" needed, earlier court documents said.

(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)

Write to Katy Stech at [e-mail].



----------------------------------------------------------------------------------

http://finance.yahoo.com/news/dune-energy-inc-reports-end-212400951.html

Dune Energy, Inc. Reports Year-End 2014 Proved Reserves Of 12.9 MMBoe, Down 17% From Year-End 2013
HOUSTON, April 2, 2015 /PRNewswire/ -- Dune Energy, Inc. (DUNRQ) ) ("Dune" or the "Company") today reported year-end 2014 proved oil and gas reserves of 5,601 Mbo and 43.6 Bcf of gas or 12.9 MMBoe. Oil volumes decreased 1,562 Mbo or 22% and gas volumes decreased 6.5 Bcf over year-end 2013 reported reserves. PV@10% value of these reserves, as calculated in accordance with applicable financial and reporting standards of the Securities and Exchange Commission, totaled $256.6 million, a $55.1 million decrease or 17.7% below the year-end 2013 PV@10% value of $311.7 million.

A third party, independent reserve report was done as of June 30, 2014 by DeGolyer & MacNaughton. The year-end 2014 reserve report was completed by Dune. The prices used at year-end 2014 were $91.61 per Bbl and $4.35 per Mmbtu.

Year-End 2013 vs. Year-End 2014

The following table compares proved, probable and possible reserve amounts for year-end 2013 and year-end 2014.




MMboe

MMboe



Reserve Category

Year-End 2013

Year-End 2014

Change


Proved Developed (PDP, PDNP)

8.2

7.3

(11%)


Proved Undeveloped (PUD)

7.3

5.6

(23%)


Total Proved

15.5

12.9

(17%)


Probable/Possible

13.3

14.0

5%


Grand Total

28.8

26.9

(7%)


Major Field Breakout by Reserves Year-End 2014 (MMboe)



Field

Proved

Possible/Probable

Total


Leeville

4.9

13.7

18.6


Garden Island Bay

1.8

0.1

1.9


Bateman Lake

1.3

0.2

1.5


Chocolate Bayou

1.1

0.0

1.1


Other

3.8

0.0

3.7


Total

12.9

14.0

26.8


Production Volumes

In total, 2014 sales were 376 Mbo and 1.6 Bcf or 643 MBoe. On a daily basis this averaged 1,762 Boe/day and 58% of the sales were oil. January sales were 1,346 Boe/day with 57% oil and February sales were 1,458 Boe/day with 67% oil.

2015 Strip Price

Estimated future revenue attributable to Dune's interest in the proved reserves were based on spot prices, effective December 31, 2014. Prices for 2015 were $52.19/Bbl and $3.01/MMbtu.




Proved




Developed Producing

Developed Nonproducing

Undeveloped

Total Proved



(M$)

(M$)

(M$)

(M$)


Future Gross Revenue

151,061

149,626

243,859

544,546


Future Net Revenue

49,885

77,882

111,911

239,678


Present Worth at 10%

33,254

40,285

70,916

144,454


The forecasted field cash flow for 2015 from proved developed producing only is $7.244 million.

Upside Potential and Capital Expenditures

Over and above the 12.9 MMBoe of proved reserves, the Company has identified an additional unrisked 54 MMboe of probable, possible and exploratory reserves. These projects are defined with recent fully processed 3-D seismic data and within our acreage positions. The majority of this upside potential is within our Garden Island Bay field.

As previously disclosed, the Company and its subsidiaries filed voluntary petitions in the United States Bankruptcy Court for the Western District of Texas, Austin Division (the "Bankruptcy Court") seeking relief under Chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code"). The Chapter 11 cases are being jointly administered under the caption "In re Dune Energy, Inc., et al", Case No. 15-10336 (the "Chapter 11 Cases"). The Company continues to operate its business and manage its properties as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. The Company currently is limiting its operations to those necessary to preserve the value of the business as a going concern and to formulate a definitive Chapter 11 bankruptcy plan ("Plan") for submission to the Bankruptcy Court and claimholders of the estate. This process includes evaluating alternative proposals for the sale of substantially all of the Company's assets in the Chapter 11 case and in connection with the Plan. All other business activity, including prospect acquisitions and other capital expenditures, has been halted. The Company therefore does not have the capital required to explore and develop these opportunities.

Click here for more information: http://www.duneenergy.com/news.html?b=1683&1=1

------------------------------------------------------------------


DUNRQ TRADING AT 0.01 WORTH 1.16$ ACCORDING BANKRUPTCY COURT DOCUMENTS, OS 73M, SUPER TINY FLOAT, EASY 50X WITH GOOD NEWS AND POSITIVE EQUITY FOR COMMONS!!!
FREE MONEY IMO BUT DO YOUR DD BEFORE INVESTING HERE, IT SEEMS POSITIVE EQUITY LEFT FOR COMMONS, JUNE 9 WILL BE THE DAY OF AUCTION SET BY BANCRUPTCY COURT FOR ASSETS SALE.

DUNRQ 0.01$ IN CH11 BUT BV IS WORTH 1.16$ OR 85MLN$ VS CURRENT MARKET CAP LESS THAN 2 MLN$!!! CO. SEEKS FOR CH11 PROTECTION, LISTED ASSETS WORTH 229.5MLN$ VS ESTIMATED LIABILITIES WORTH ONLY 144.2MLN$, SENIOR LENDERS ARE OWED 39MLN$ WHILE SECOND LIEN LENDERS ARE OWED NERLY 68MLN$.
COMPANY IS OWED 5.5MLN$ FROM EOS PETROLEUM BECAUSE IT BACKED OUT OF A MERGER PROPOSAL AND REGULAR TENDER OFFER DUE TO LACK OF FINANCING.
EOS PETRO GAVE TO DUNE ENERGY A VALUATION OF 135.9MLN$ DEBT INCLUDED OR 3X 2014 REVENUES WHILE NOW IT'S ONLY WORTH LESS THAN 2 MLN$. EOS PETRO TENDER OFFER WAS AT 0.30$ PER SHARE OR AN EQUITY VALUE CONSIDERATION WORTH 22MLN$, CURRENT MARKET CAP IS LESS THAN 2MLN$ WHEREAS ONLY THE BREAK UP FEE IS WORTH 5.5MLN$ AND ASSETS WILL BE SOLD AT AUCTION JUNE 9
FAR EXCEED TOTAL DEBT. OS IS ONLY 73MLN, MAY EASY REACH 0.20$ FOLLOWING GOOD NEWS SUCH AS THE 5.5MLN$ BREAK UP FEE OBTAINMENT, THEIR ASSETS ARE LOCATED IN LOUISIANA AND TEXAS GULF COAST. COMPANY ALREADY OBTAINED 10MLN$ IN DIP FINANCING FROM LENDERS. THE RESTRUCTURING PROCESS WILL BE COMPLETED IN LESS THAN 4 MONTHS.
EVEN IF TAKING INTO ACCOUNT THE OIL COLLAPSE HOW IS IT POSSIBLE THAT A COMPANY LIKE DUNE IS WORTH 135.9MLN$ AND AFTER LESS THAN 6 MONTHS 0$?


http://www.bidnessetc.com/36537-heres-why-dune-energy-inc-dunrq-stock-tumbled-82-

yesterday/

As reported by Bloomberg, Dune Energy Inc (OTCMKTS:DUNRQ) filed for bankruptcy in a court in Austin, Texas on Monday. The Chapter 11 filing came on the back of a fall in revenue and a failed merger deal with EOS Petro Inc. The Los Angeles-based
company backed out of the merger on March 4. The company due to falling crude oil price lacked the financing required for the merger to take place.
As reported by the Wall Street Journal, the Restructuring Chief of Dune Donald R Martin in a declaration filed in the court indicated that the decline in crude oil price sent the revenue down $12.5 million to $43 million in 2014, compared to what
the company generated in 2013. Mr. Martin on the issue said: “During 2014, as a result of a significant decline in oil price, the debtors’ revenue fell sharply, although the debtors were able to reduce expenses, the significant decline in
revenue imposed a strain on the debtors’ liquidity.”
The falling oil price has caused substantial problems for companies involved in the energy industry. Crude oil price since June 2014 has fallen more than 50%. The fall in the price was associated with rising US production owing to the hydraulic
fracturing techniques employed by the US energy firms. US production as a result has reached a 30-year high. The International Energy Agency estimates the US
production to be more than nine million barrels of oil per day.
The Organization of Petroleum Exporting Countries in a move to protect its market share refrained from cutting its production and maintained it at 30 million barrels of oils per day. This has worsened the decline in crude oil price. Demand for fuel
has also weakened in recent times.
As reported by Bloomberg, Dune Energy would seek an approval from the court to divest its assets in an auction to be held on June 9. The company’s listed assets are worth $229.5 million, whereas, its debt is valued $144.2 million. No bids till now have been received by the company for its assets. The company has requested the court to approve a $10 million loan financed through Bank of Montreal and CIT Capital Securities LLC.

Dune Energy indicates that EOS owes around $5.5 million to the Houston-based company as a fine for backing out of the merger deal which was made on September 2014. Other companies that have filed for bankruptcies include Endeavour International Corporation (OTCMKTS:ENDRQ), Gasfrac Energy Services Inc, and Cal
Dive International, Inc. (OTCMKTS:CDVIQ).

Dune Energy shares crashed 82.76% yesterday to $0.0250

-----------------------------------------------------------------
http://www.wsj.com/articles/dune-energy-to-begin-swift-bankruptcy-sale-process-

1426080050


Business

Dune Energy to Begin `Swift` Bankruptcy Sale Process

Judge approves moves that will ease company’s transition into bankruptcy protection

By Tom Corrigan

March 11, 2015



Dune Energy Inc., a Houston-based energy company, has received a bankruptcy judge’s approval to kick off a marketing and sale process, one that aims to keep the business operating while in Chapter 11.
During the company’s first appearance in court Tuesday, U.S. Bankruptcy Judge H. Christopher Mott signed off on a series of so-called first-day motions that will ease Dune’s transition into bankruptcy protection, allowing it to pay employees, to
access its bank account and to otherwise continue normal operations.
Judge Mott also signed an interim order allowing the company to drawn down up to $3 million of a larger $10 million loan from a group of lenders led by Bank of Montreal. A final hearing on the loan was scheduled for April 2.
As a condition of the bankruptcy financing, Dune’s senior lenders are requiring that the company put itself up for auction.
According to proposed bidding procedures, which weren't brought before Judge Mott at Tuesday’s hearing, Dune will pursue a “fairly swift sale process,” according to attorney Charles Beckham. Under the currently proposed timeline, Dune will hold an auction June 9, with a sale hearing to follow shortly after.
Prebankruptcy marketing efforts failed to produce a lead bid, court papers say.
Dune and two subsidiaries filed for Chapter 11 protection Sunday, after falling oil prices caused a proposed merger with EOS Petro Inc. to fall apart last week. The proposed merger would have valued Dune at $135.9 million, but EOS was ultimately unable to line up the financing to complete the deal.
The publicly traded company listed assets of $229.5 million and debts of $144.2 million. Senior lenders are owed $39 million, while second-lien lenders are owed nearly $68 million.
Dune is the latest among a number of companies---including Endeavour International Corp., BPZ Resources Inc., Cal Dive International Inc. and Gasfrac Energy Services Inc.---that have recently sought bankruptcy protection as a result of plummeting oil prices. Several others have skipped payments to bondholders and warned that bankruptcy is a possibility.
In a declaration filed with the court, Dune’s restructuring chief, Donald R. Martin, said the decline in oil prices cut into the company’s bottom line, with 2014 revenue of $43 million down from $55.5 million in the prior year. After Dune tripped financial covenants on its loan, its lenders limited how much the company could borrow, prompting the Chapter 11 filing.
Founded in 1998, Dune’s holdings include properties covering more than 74,000 gross acres across 15 producing oil and natural gas fields in Texas and Louisiana. Energy produced is sold primarily to domestic pipelines and refineries, court papers say.

- Patrick Fitzgerald contributed to this article.

Write to Tom Corrigan at [e-mail]