Par Pacific Holdings, Inc. (PARR)

[makethegame]

hmm

[kimzerfantastik]

1.3milVOL,

02/28/13...Time & Sales,
Price Size Exch Time
$1.2050 652,000 OBB 16:01:00
$1.2200 4,000 OBB 16:00:14
$1.2000 618,314 OBB 16:00:06
$1.2000 20,000 OBB 15:59:21
$1.2000 4,800 OBB 15:59:21

[kimzerfantastik]

(2) 200kVOLblocks today,

02/26/13...Time & Sales,
Price Size Exch Time
$1.1900 200,000 OBB 15:53:44
$1.1800 200,000 OBB 15:53:24
$1.1800 10,000 OBB 11:38:52

[WildcatDriller]

Delta... I knew her well.

[molecularcd]

That is interesting. Polish up that DD and get er' posted. I'd like to know more about it. U B Mod.

I found out about this fairly easily. Just followed the DPTRQ trail of tears.

Might make a nice spec play even if the company has no revenue yet.

[J.T. The DD King]

Also have you checked out the major shareholders and the CEO? All huge Hedge funds and they are not shareholders because of being bag holders. This company throws millions around like Monopoly money with a 1/2 dozen subsidiary's. I DDed this back in Oct so I'll dig it up and get it posted. It's super interesting. One of my favs!

[J.T. The DD King]

Kirk Kerkorian baby! $640M worth transferred to PARR. How did you find this? PARR was my secret play I've been watching and waiting. I only told two people about. Hmmm,...NoDummy!!! lol! It's all good! The more the merrier!

[molecularcd]

KK eh?

So, who is it?

[J.T. The DD King]

Plus PARR has a $280M credit line and has only used $30M of it to pay past BK creditors. I was wondering why a company with a $280M credit line was listed Grey Sheets and have been watching ever since. Now that it's trading, it's one to really watch.

[J.T. The DD King]

His initials are KK

[J.T. The DD King]

as a teaser someone very important owns a good part of this company

[J.T. The DD King]

I caught this back in grey sheets and will create an intro page with DD soon.

[J.T. The DD King]

You have a very good eye.

[molecularcd]

Well, someone (not me) paid $1.07 for 552 shares today.

Not sure how a $150mm market cap on this puppy makes any sense though.

[molecularcd]

Par Petroleum Corporation, formerly Delta Petroleum Corporation, is an independent oil and gas company engaged primarily in the exploration for, and the acquisition, development, production, and sale of, natural gas and crude oil. Its core area of operations is the Rocky Mountain Region, in which its proved reserves and production is located. Its segments include the acquisition, exploration, development, and production of oil and natural gas properties and related business activities, and contract oil and natural gas drilling operations. On July 30, 2010, it completed the sale of certain non-core properties to Wapiti Oil & Gas, L.L.C. As of December 31, 2010, the Company owned 49.8% interest in DHS Drilling Company. During the year ended December 31, 2010, it sold its 5% interest in Collbran Valley Gas Gathering, LLC, and 50% investment interest in Delta Oilfield Tank Company, 50% investment interest in Delta Oilfield Tank Company and its 50% investment interest in Ally Equipment.

[molecularcd]

DENVER, Aug. 31, 2012 /PRNewswire/ -- Delta Petroleum Corporation ("Delta" or the "Company"), now renamed Par Petroleum Corporation as described below, announced that as of today the Company has consummated its third amended plan of reorganization (the "Plan") with Laramie Energy II, LLC ("Laramie") as the sponsor. The implementation of the Plan, as confirmed by the U.S. Bankruptcy Court on August 16, 2012, marks the conclusion of the Company's financial restructuring, and the emergence of Delta and eight subsidiaries (including Amber Resources Company of Colorado ("Amber")) from Chapter 11. Delta and Amber's previously outstanding common stock has been cancelled, and will no longer be traded. In conjunction with the reorganization, Delta has been renamed Par Petroleum Corporation ("Par Petroleum").

At closing, Laramie and Par Petroleum contributed their respective assets in Mesa and Garfield counties, Colorado, to form a new joint venture called Piceance Energy, LLC ("Piceance Energy"). Laramie and Par Petroleum hold 66.66% and 33.34% ownership interests in Piceance Energy, respectively. Subsequently, Piceance Energy entered into a new $140 million credit agreement, and distributed approximately $74.1 million to Par Petroleum and $24.8 million to Laramie. The distributions are subject to adjustment per the joint venture transaction effective date of July 31, 2012.

As part of the Company's reorganization, $265 million in unsecured notes were converted into equity. The Zell Credit Opportunities Master Fund, L.P., an affiliate of Equity Group Investments, and clients of Whitebox Advisors played a leading role in the restructuring process and are now the two largest equity holders in Par Petroleum. Affiliates of the two firms are also the two largest lenders under Par Petroleum's new $30 million delayed draw term facility (the "exit facility"), $13 million of which has been drawn down. Par Petroleum will use the $74.1 million distribution and the exit facility to pay bankruptcy expenses, secured debt, the debtor in possession loan, priority claims, and to fund two litigation trusts.

Following the closing, Par Petroleum retained its interest in the Point Arguello unit offshore California, other miscellaneous assets and certain tax attributes, including significant net operating losses. As part of consummating the Plan, Par Petroleum issued new common stock for distribution to holders of allowed prepetition claims. The new common stock will be publicly traded on the over-the-counter (OTC) market. Delta's shareholders prior to Chapter 11 emergence will not receive any consideration under the Plan.

PR Newswire (http://s.tt/1me82)