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yadda yadda yadda..... the key is confirmation from p petro...
this BK has been shaddy from the get go.... no surprise from court....why the panic...???
did you not think court would approve...?? shocker...
cancel my shares....!! do you know if peru approved transfer...??
So you're going to hold and wait for a pop? It's really too bad it had to end this way. I had high hopes.
nothing unethical as of now dropping prices of a stock based on fear....... whos licking their chops right now....??
dissolve my position..... im waiting........ chap 11 / not 7
Any confirmation of blocks from Perupetro.....??
I had no doubt of approval of court....
yes / no ...... simple answer......
Hit triple 0s as was expected.
Its on my etrade published by dow jones and marketwatch at 1:43pm
If commons survived this woulda hit .10 day 1
Plan is approved and shares will be cancelled
you must cover shorts first
HOW MUCH DID / WILL THE SHAREHOLDERS GET FROM THE ASSET SALE(S)?
Maybe we should all hold our shares for the distribution...
Plan officially approved.
http://www.kccllc.net/bpz/document/1560016151112000000000001
Let's see where this POS goes tomorrow.
I sold at .0011. Knowing my luck,the court rejects the plan and this thing goes back to a few cents. The document will probably come Thurs ah. Friday there's either going to be a massive spike or this things sees triple zeros.
who is buying at the ask? why bid continue raising
Perupetro.
Perupetro anounced today that in the early months of 2016 will concession
6 offshore blocks that recently made the seismic data.
One of those has to be Z-1.
NO VOLUME TODAY EITHER.
You would think everyone would be buying because Peru will veto this deal and the company will continue operating and rewarding its shareholders...
and bid raised last hour
Company will exist till it does, doesn't mean the stock will continue to trade though. Don't be surprised if we see this stock hit triple 0s tomorrow. Tbh, I'm very surprised the volume was only 2,000,000 today. I was expecting much much higher. I guess a lot of people are still holding, it'll hit triple 0s friday for sure though.
what if Perupetro doesnt agree with transfer?
New document
http://www.kccllc.net/bpz/document/1560016151110000000000003
Basically the plan has been approved already, and the Nov 12 hearing is just a formality. Page 12 also states the company will continue to exist as long as it takes before Perupetro agrees with the transfer. That doesn't mean however that the stock will be trading until that time. I expect shares will be cancelled sometime by the end of November after hours.
FREE DRINKS TODAY!!
At the Tasting Room next to BPZ's new offices, starting at 2:00 pm today.
Come help us celebrate...Ask for the BPZ party.
Who's crying? Some people are laughing all the way to the bank.
We should all go to the Tasting Room next to BPZ's offices today, I'll bet the management will be there celebrating. It might be good for a free glass of Champagne.
NO, PERU has no say in a court in Victoria, TX.
I'm pretty down myself. 20k account became 10k, i invested in bpzrq and dunrq. You know what it is now? 1k dead meat.
I need to find a place to cry. It is the worst day of my life.
Nothing has gone shareholders' way so far in this bankruptcy. Why would you expect this to be any different? Even Harris county withdrew its objection.
you too? I feel for you. Life savings down the drain.
What about Peru government rejection? Does it work?
sold 500k for .0011. Better something than nothing. Good luck to whoever is still holding. Let's see how high the volume will be today, my guess is anywhere from 5,000,000 to 10,000,000.
Time to sell. I've been a fool for holding on for so long, I should've sold back in August. If by some miracle court rejects plan, I'll jump back in.
Straw Buyers....
....the below sales may be hard to prove as BPZRQ assets are being sold to a Caymen Island offshore entity
be hard to prove.....not be subject to the same laws as USA laws
Strawbuyer/Fictitious Bidder............bondholders approved 100 %......hmmmmmmm
The debtor sells assets to a court-approved buyer and the assets are secretly resold at a profit pursuant to a previous agreement with a third party.(....sold secretley to BOND HOLDERS..at discount....IMVHO.) Where fictitious bidding is suspected, creditors should require a statement to the effect that the buyer is bidding for himself or have him state the purpose of the purchase. False statement prosecutions have been brought where this statement is false.
Examples Of Straw Buyer/Fictitious Bidder
Kickbacks: An insider agrees to sell assets to a purchaser who agrees to pay the insider a kickback. A Chapter 11 is filed to allow the insiders to complete their scheme.The purchase price disclosed in the motion to sell is less than the price agreed upon by the insider and the purchaser. When the sale is completed, the debtor receives the difference between the court-approved price and the undisclosed sale price.
Straw Sales: Insider wants to conceal his purchase of estate assets because he wants to orchestrate the sale to allow him to buy the assets for a depressed price. A fictitious purchaser or nominee is used to acquire the assets. Once the sale is consummated, the assets are transferred to the insider for a fee. Insider and purchaser do not disclose the relationship to the court. Oftentimes, both parties will make affirmative statements claiming there are no connections or agreements between them.
bankruptcy transferred assets can be free and clear of liens, claims and encumbrances – a powerful incentive for potential buyers
Why sale of assets through bankruptcy purchase of assets can happen without fear of fraudulent transfer claims following the sale
As referenced above, one of the most attractive reasons to buy and sell assets via Chapter 11 bankruptcy is the fact that the Bankruptcy Code permits buyers to purchase assets free and clear of liens, claims and encumbrances.
A sale motion will typically ask the court to establish procedures for the sale that will be approved before the sale itself is conducted. The complexity of the procedures will vary depending on the nature of the assets to be sold, and the sale itself might happen by private sale or public auction.
Even when sales happen on shortened notice, the foregoing procedures are generally followed.
cc
Lights out.
http://www.kccllc.net/bpz/document/1560016151109000000000002
100% of votes were for the plan, I can't believe nobody voted against it. How is that even possible? This was our last hope, I can't see how the plan won't be accepted. This is going to get ugly tomorrow.
Looks like they're not going to disclose bondholder voting results till the 12th. Was expecting a document letting us know how the vote went by now. Good luck to those still holding.
Lol they have to let creditors know the outcome sooner or later. Don't kid yourself, it's the law.
If that is all that was filed after all this time...I would be very worried if I was long....
Just a limited objection by Harris county.
http://www.kccllc.net/bpz/document/1560016151106000000000002
I'm still waiting for the document that's going to tell us what the bondholders voted.
Is there any news?
could all just be smoke and mirors to submit creditors...(IMO)
such a ridiculous BK.....
stay tuned for fireworks....... IM IN....!!!
Zúñiga LIED to Court. Jorge Rivera (Zorritos and Upland) was an insider and is his friend for 40 years
PRISION TO THEM
Report TOS
they dont know how it works in Peru
Shorters convinced this is a done deal, no bondholder approval=no deal. I don't know how they can be so confident that the bondholders will approve the plan.
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************************************************ ************************************************
Houston-based BPZ Energy, Inc. is an oil and gas exploration, and production company with properties and projects in Peru and Ecuador. The Company has an integrated gas-to-power strategy which entails the development of its large natural gas resources in Block Z-1 to supply a Company-owned power plant in Peru and sales of natural gas into Ecuador for third-party power generation. BPZ has exclusive rights and license agreements for oil and gas exploration and production that cover 100% ownership in approximately 2.7 million acres in three basins; the Tumbes, Talara and Lancones Basins. BPZ also owns a 10% working interest in the Santa Elena field, which produces over 2,000 barrels of oil per day in southwest Ecuador.
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2005 Press Releases to date:
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Headquarters:
Contact: Manolo Zuniga, President and CEO
Randall D. Keys, CFO
BPZ Energy, Inc.
281-556-6200
http://www.bpzenergy.com
Investor Relations:
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Share structure:
Auth.
Restr.
O/S.
Float
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For over 200 other O&G companies/charts, visit Oil and Gas Central: http://www.investorshub.com/boards/board.asp?board_id=4810
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