Penn Virginia Corp. (fka PVAHQ)

[AAONMS]

I hate auto correct on my phone. Sorry.

[AAONMS]

Um ova was the ticker when the company was on the Nasdaq, I believe. Pvah was the ticker when it was delisted and moved to the pink tickets OTC. Pvahq, the "Q" indicates the company is in bankruptcy. Now thanks to the the bankruptcy, the company will change its name once again and get onto the pink tickets again. I believe the bad debt was erased from their coal holdings bankrupted by the Obama administration. Now all that bad debt is gone and this company has a chance to become viable again because of their diversification in oil, lip, and natural gas. I still have all my shares, minus the ticker name for said shares.

[Ensame]

Why are you sure cancelling the old stocks PVAHQ means shareholders will not get anything from the new common stocks? This is not specified in the press release from the company, I believe. Anyone can confirm?

[Tajiri]

SAD.. RIP common shares.. i burned my a$$

[Renee]

PVAHQ: BK PLAN effective. All shares cancelled at 9:04 A.M. EST.

Note: both series of Preferred Shares, PVAYQ and PVGPQ also cancelled.

http://otce.finra.org/DLDeletions

[chico2663]

says in the excerpt that they are worthless

[Tajiri]

BRIEF-Penn Virginia Corporation emerges from bankruptcy.

http://uk.reuters.com/article/idUKFWN1BO0IM

What happens to the common stocks?

[Tajiri]

Any news on this ticker?? its been quiet for so long.. What is the court saying? are we getting anything for the common stock?

[Zardiw]

Maybe..... Seems to be Q season lately........et z

[DJPennyTrader]

I wonder if this one can get legs.... technically I think it will, next resistance is the 50 MA

[Forever Long]

Sounds bullish to me...

[514]

If they ever quit dumping? Higher lol

[gm99]

PVAHQ (old symbol: PVA, PVAH), from $18.2 to $8.1 to...$0.02 ? Huge bouncing shortly! to $0.20-$0.30's .

[OTC Mutha]

The excerpt below is from the 8-k filed on 8/17/16... You can also confirm this by reviewing the reorg plan.... Bottom line is shareholders aren't getting anything. The stock though technically worthless will continue to trade OTC until the reorg plan becomes effective.



The Plan contemplates, among other things, that, upon the Effective Date:

• holders of claims arising under the Notes and certain other unsecured claims (the “General Unsecured Claims”) will each receive their pro rata share of (i) 100 percent of the New Common Stock (as defined below), subject to dilution on account of the Rights Offering (as defined below) and the Commitment Premium (as defined below) and (ii) subscription rights to participate in the Rights Offering;

• claims arising under the Debtors’ debtor-in-possession credit facility (the “DIP Facility”) described below will be paid in full from cash on hand and proceeds from the Exit Facility (as defined below) and the Rights Offering;

• claims arising under the RBL Facility will be paid in full from cash on hand and proceeds from the Exit Facility and the Rights Offering; and

• the Company’s current preferred stock and common stock will be canceled, extinguished and discharged.

[slimshady69]

hey 514, I loaded some u*ln today. What do u think is the potential here????

[514]

hello ?

[hondaboost]

PVAHQ, $0.027, very thin! High as $8.1 last year and $18.2 in 2014.

[DeafTrader2]

The plan eliminates more than $1 billion of debt, and includes a $50 million rights offering of new equity. Upon the effective date of the plan of reorganization, the noteholders will hold approximately 96% of the equity in reorganized Penn Virginia.


What happen to common shareholders who own this ticker ?

[shurtha2000]

All the gas Q's getting giddy lately watch KWKAQ too

[hondaboost]

PVAHQ, $0.026, starting moving. Delisted from NASDAQ. It was High as $18.2 in 2014 and High as $8.9 in 2015. O/S: just 80 m ( low float), very thin!!!

Strong bouncing coming!

[shurtha2000]

NG getting close to that $3 mark

[legalizeMJ]

PVAHQ vs SDOCQ(It's industry comparisons)

1)PVAHQ and SDOCQ are Oil & Gas stocks

2)PVAHQ is unchanged.

3)SDOCQ is UP 70%

[Tajiri]

Whats going on with PVAHQ? the volume has been down in the last 2 weeks or so,..

[HockeyFan09]

Where are things at PVAHQ?

Any word on what is happening to the common share holders? I didn't see anything official out yet. The stock is still trading, mind you with incredibly low volume, but still it seems to be alive!

Just wondering if people are still waiting on news here or did I miss the news?

[shurtha2000]

this could move fast with some volume

[Zardiw]

$PVAHQ 8K out. They settled with ETC Texas.....got another 5 years:

https://www.sec.gov/Archives/edgar/data/77159/000119312516684939/d243600d8k.htm

z

[Tajiri]

What is the truth of the matter?? Some posts suggests that a deal was reached and the common share holders are getting something. Some are saying that there is nothing at all.. Where do we stand? Anyone who can share the court documents?

[HockeyFan09]

Thank you for the details on what's happening.

I'm not currently in this stock, but was at one point (long position). Was considering getting back in, but haven't pulled the trigger. I really do hate this stock. The company was so mismanaged. I read that some are hopeful that common are getting something, but the stock price just doesn't seem to reflect much hope in that happening. I don't know if I really want part in "PVA 2.0" even if the chance existed. I was burnt pretty bad the first go around with this company. I don't think I could ever trust their management again. A pretty sad end to this over 100 year old company.

[OTC Mutha]

Shareholders aren't getting anything. The bankruptcy plan was confirmed the other day. Once they tick the boxes on some final items the reorganization plan will become effective. Once it becomes effective it will cease trading and the stock will be cancelled with no value per the terms of the plan. The settlement by the equity committee which you can read in the court docs simply allows for the lawyers who worked for committee to get paid. Nothing more.

[HockeyFan09]

I wonder when this future date will be? The stock isn't really doing much of anything right now. The lack of any real information is pretty frustrating. To sit and wait seems the only thing to do right now. I'm nervous about what this "settlement" might look like.

[We777]

We are def getting something. All the court papers have been released. The equity committee that represents the stockholders won us some kind of deal. Besides the paying of the lawyers which is a half 1 million there is a settlement for us just doesn't state exactly what . says for future date as of yesterday in court this so many papers I can't make it all out. The equity committee is stockholders that on almost 3,000,000 shares at of like the 15 million whatever it is common stock shares. And they're representing all of us. We definitely getting something it's just unclear what as of yet. If anybody else has any Details please share

[Greg46]

Stock still showing up in Fidelity Account today, anyone hear any updates on what is in store for us? Still hoping the settlement with shareholders means we end up with a percentage of the new stock.

[We777]

Anyone know what happened today ? The stock is supposed to be done tomorrow what's going on.

[We777]

Can somebody who knows for a fact please tell me what's going on. Is there a settlement for the common stockholder or are we getting screwed and need to lawyer up ? Show some real proof please thank you.

[We777]

That's last week already happened were not getting anything

[Tajiri]

any idea how the new settlement looks like??

[Greg46]

Found this link...I haven't heard anything but hoping we get clarification by the EOB tomorrow. http://www.reuters.com/article/bankruptcy-pennvirginia-idUSL1N1AJ29N'

[We777]

If this is true when is it supposed to be let know. The stock gets erased In Two days

[steven_R4848]

A small group of the largest shareholders in a company formed to represent all other shareholders during a company's bankruptcy trials. An official committee of equity security holders is typically made up of several of the largest shareholders of a company who stand to have the most to gain or lose during the bankruptcy proceedings, thus would serve as the best proxy for the shareholders as a whole.

Read more: Official Committee Of Equity Security Holders Definition | Investopedia http://www.investopedia.com/terms/o/official-committee-of-equity-security-holders.asp#ixzz4GYF1zoY3

Read the news

Penn Virginia Reaches Settlement With ShareholdersFont size: A | A | A
3:41 PM ET 8/2/16 | Dow Jones
By Lillian Rizzo

Penn Virginia Corp. struck a deal with shareholders to stave off a possible battle over the oil and gas explorer's restructuring.

In a letter to the judge overseeing the case, Penn Virginia's lawyer said it reached "a comprehensive settlement" with shareholders and would file a revised version of its restructuring plan this week.

The settlement puts to rest the shareholders' call for the appointment of an official committee to represent their interests in the case, which would have required Penn Virginia to foot the bills of the shareholders' lawyers and other advisers.

Court papers show the shareholders withdrew their request for a committee on Monday. Shareholder lawyers declined to comment on Tuesday.

The company's current reorganization plan would cancel its existing shares, leaving investors without any payment. Bankruptcy laws generally bar shareholders from recovering any of their investment unless all a company's creditors are paid.

Last month, Penn Virginia's shareholders sought official committee status so they could investigate the alleged "disappearance of $2.7 billion in value represented by the debtors to the investing public just a year and a half ago."

The shareholders also asked for further documents related to the company's valuation to determine if they really would be "out of the money" at the end of the restructuring.

A hearing on the shareholders' request for committee status was scheduled for this month. Previously, however, Judge Keith Phillips of the U.S. Bankruptcy Court in Richmond, Va., denied the shareholders' call for Penn Virginia to turn over more documents to the shareholders, citing the additional cost to the company.

While the investor group said it expected the cost for producing the documents to run between $200,000 and $500,000, Penn Virginia estimated it would cost $922,805.

Penn Virginia filed for chapter 11 protection in May after negotiating a restructuring deal with lenders. It halted drilling and performed a series of layoffs and other cost-cutting measures because of plummeting oil and gas prices. The Radnor, Pa., company is one of the largest oil and natural gas drillers in the Eagle Ford region, and drills in Oklahoma and Pennsylvania's Marcellus Shale.

[steven_R4848]

We need to wait for the revised Settlement docket....it clearly says -"Penn Virginia Reaches Settlement With Shareholders"....

[We777]

Does anyone have solid proof what's happening with the common stock ?

[We777]

I'm hearing no that the common stock owners we getting nothing

[steven_R4848]

Equity Committee means including all SH. So when they settled with SH means we are part of them. It might be we % of the new stock...

[We777]

They are saying common stock holders are getting nothing that's the word. If what I'm hearing is wrong can someone show me differently. Becuase I don't wanna loose all my money and the stock is so far down I'm loosing thousands. If this the case im contacting a lawyer, it's crazy that they are trying to drop us and just steal our money I'm not gonna go along with it. If I am wrong please someone show me thank you.

[steven_R4848]

I don'y undertsand why its going down unless someone brought it down to load....

[steven_R4848]

Hi, If you read the news they have settled with Shareholders and Adhoc Equity committee withdrawn their request to appoint, IMO I guess they would have reached good deal since they have brought very valid points which PVAH is very scared to answer. We need wait for the revision Doc, let see what store in for us.

[We777]

Are we getting a percentage of the new common stock ? Can someone clarify what is going on to me please. If we are not and they are trying to screw us I will be getting a lawyer and who would like to be involved please let me know.

[steven_R4848]

Hi,

I also puzzled at the stock tanking..afterall we recieved good news...settlement will be % of new stock... so?

[We777]

Are they trying to screw us outta our money I'm down thousands. Are we getting anything for our common stock. This is all very sketchy. Probably going to contact a lawyer in my own tomorrow. Can someone shed some light on what's going on thank you.

[We777]

Ok can someone tell me what's happening with our common shares. Are we ok what's going on ?