Saratoga Resources, Inc. (fka SARA)

[Wyn0t]

News on 1/23/17 had some info...actually, $120k is available? Anyone see $120k as a material amount to begin extracting sizable reserves?


http://www.businesswire.com/news/home/20170123006064/en/

Excerpt..."Since our exit from bankruptcy, we have successfully sold our two remaining Gulf of Mexico assets. Pursuant to the sale, we brought $60,000 of cash into Saratoga with the buyer also replacing existing bonds on the properties which is expected to allow us to secure the release of existing bonds posted by Saratoga. We have submitted paperwork to secure the return of funds posted to secure those bonds as well as the bonds on two other Gulf of Mexico assets that we elected to release. Together, we anticipate receiving approximately $120,000 from the release and return of such bonds".