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No, is go to a judge or a congress man in Peru and place a claim to stop the transfer.
make it public go the newspapers, it has to do with taxes no colected.
zedd buying for peanuts block z-1.
also very important the fact of a conflict on interest.
Zoeger the new president of Perupetro was until last month the president
of BPZ in Peru in other words the chief of the subsidiary .
That to me is very suspicious.
So Peruman or hinch make your moves.
American Airlines was also in CH11 ,if i am not wrong they were also
delisted, went to pink sheets and their stock had a warning of CH11.
But they had potencial and the will to do things the ethical way.
They emerged from ch11 and merged with US airways ; the stock made spectacular gains after sinking.
They are in business as usual.
On the other side BPZ had the potencial but not the will.
They just took the money from everybody and "SOLD" the company .
It was a transfer to people he trust and thats why Caiman and Panama.
Why did change name from fusion pharm to pharmpods ???
anybody !!!
thanks.
thats wy this ceo sold us the story that the sale of assets was better and
they kept out blackstone to find a deal, blackstone is even investing is
oil co's.
unsecured bondholders can be paid with new stock , a reverse split and new
issue of stock was an option for bonholders , although stock holders would
be affected but at least the company would stay in business.
i don't know how the court let this happen i don't how the committee of unsecured creditors let this happen its outrageous !!!
now bpz change their address in houston.
http://www.kccllc.net/bpz/document/1560016150807000000000006
I think this game is over , its been one big lie after another from
this crooked CEO, he said the sale of assets instead of liquidation
under bankruptcy would be better for shareholder and would preserve some
value; the same lie when he default and said he would find a solution.
when the stock was delisted from the NYSE that he would fix it.
ALL LIES !!!!!!!!!!
Was PERUMAN bluffing ???
No Idea !!!
A captain living his ship before sinking!!!
the only thing left are the 3 turbines !!!
I don't like the fact that the new president of Perupetro was an executive
for BPZ in Peru.
Hydrocarbons in the territorry that comprehends the Peruvian nation belong to the Peruvian goverment according to the Law No 26221.
According to article 8 of this law 26221 the Peruvian Goverment surrenders
to Petroperu(that is a private company) the rights to establish contracts
with energy corporations to explore and produce in oil and gas activities
in the way of concessions that are contracts between two private peruvian
corporations : Perupetro and the Subsidiary of a foreign company.
The contract is legalized by a Peruvian Notary and registraded under Peruvian Laws and The Nation Archives.
So I hope that as Peruman published the minimun required for an oil company
to engage in concessions with Perupetro is three years.
its not too late , the peruvian goverment wants real oil companies to operate their concessions not caiman or panama phonie corporations.
did somebody for one moment thought that the peru goverment was going
to see how a 500million company be sold for 8 milion; what about the taxes.
petrotech was sold for 900 million and peru collected cero in taxes.
not this time !!!!
do it they 're running out of toillet paper they will appreciate your help!!!
OK THANKS .
where can i read that info.
thanks.
those are not the turbines , are the same model but are 2013.
its a reference price ; bpz bought the turbines 2009,
HOUSTON--(BUSINESS WIRE)--BPZ Resources, Inc. (AMEX:BZP) announced the signing of a contract and initial down payment with GE Energy’s aeroderivative business for the purchase of three LM6000 gas-fired turbines, with an option for a fourth unit. Each turbine will have a generation capacity of 45 megawatts. Delivery of the three units is scheduled during the fourth quarter 2009. The Company expects its wholly owned 135 MW power plant, to be located near the town of Nueva Esperanza in northwest Peru, to begin commercial electricity sales in May 2010.
THIS PARAGRAPH IS FROM THE SEC FILLING WEDNESDAY JULY 8; SO DON'T KNOW
WHAT TO THINK ANYMORE, WE HAVE THEM OR NOT.
ITS LIKE THE 3 TURBINES ARE APART FROM THE DEAL WITH ZEDD.
Following the closing of these transactions, the Company will have no further business operations . The only remaining assets to liquidate are non-operating assets consisting of the three GE LM 6000 PD gas fired turbine packaged power units, which have been transferred from a subsidiary to the Company in preparation for sale and liquidation. The Company will file a Plan of Liquidation under Chapter 11 on or before the Bankruptcy Court deadline of August 6, 2015.
from yahoo board, a post that mentions Linda Cook as head or leads Zedd.
a former Shell executive,
is that correct ???
ok lets assume for a moment their were no other bidders and that was
the best offer as ridiculous as it is.
My disbelief is wasn't the court or the judge capable of comprehending
who are the people that are after Zedd or Zorritos.
I mean dig a bit and everything is there the relation the conflict
of interest !!!
you are correct , nothing justifies this deal unless it wasn't a deal
but an arrangement under the table.
my question is can the judge or the court block this "deal" ???
now we know why they BK bpz .
new company and forget the debt.
zedd made in cayman for that reason.
http://www.bloomberg.com/research/stocks/private/person.asp?personId=100500328&privcapId=99728459&previousCapId=138265940&previousTitle=PetroToro%20Inc.
maple energy another energy company in peru that went BK.
http://www.bloomberg.com/news/articles/2015-03-28/blackstone-ceo-sees-remarkable-opportunities-in-slumping-oil
http://www.cnbc.com/id/102282291
A COINSIDENCE THAT THE CREDITORS COMMITTEE HIRED THEM ???
BLACKSTONE, POTENCIAL BIDDER???
Blackstone professionals expected to assist the Committee in this chapter 11 case is related or
connected to any United States Bankruptcy Judge for the Southern District of Texas, the U.S.
Trustee, or any person employed in the office of the U.S. Trustee. Blackstone has also advised
the Committee that Blackstone’s Private Equity Group may be a potential bidder in the proposed
auction for the Debtor’s assets. Members of the Blackstone team working on this chapter 11
case will not communicate with members of Blackstone’s Private Equity Group regarding the
Debtor or this chapter 11 case.
the latest court papers dated 29 , shows the following :
Court Docket: #0219
Document Name: The Official Committee of Unsecured Creditors' Expedited Application to Retain and Employ Blackstone Advisory Partners L.P. as Investment Banker
Court Docket: #0218
Document Name: Notice of Commencement of Arbitration Proceedings Against Non-Debtor BPZ Exploracion & Produccion, S.R.L.
IF ANYTHING HAPPENS IT HAS TO APPEAR IN THE COURT PAPERS.
sec filling june 22
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10771901
correct me if I am wrong:
the default is for the 2015 notes that also triggered an automatic default
for the 2017 notes.
this late court moved alouds BPZ more time to choose the best bid and also
defuse the pressure from pacific rubiales that declared default in the JOA
because bpz didn't made the last cash call.
what if the best bid is so good for the block Z-1 that bpz can pay the 2015 notes and has enough capex funds to stay in business and develop the other
blocks and the power station.
the bigger portion of the debt is due 2017.
correct me if I am wrong:
the default is for the 2015 notes that also triggered an automatic default
for the 2017 notes.
this late court moved alouds BPZ more time to choose the best bid and also
defuse the pressure from pacific rubiales that declared default in the JOA
because bpz didn't made the last cash call.
what if the best bid is so good for the block Z-1 that bpz can pay the 2015 notes and has enough capex funds to stay in business and develop the other
blocks and the power station.
the bigger portion of the debt is due 2017.
yes this move might be hiding an already deal .
hoping for the best.
glta.
I hope for the sake of all stockholders and I guess that because Manuel Zuniga has 5million shares they can negotiated the best price for the
assets; this company is giving up one of the best concessions in Peru.
With a refinery very close to all the blocks , with gas to create power
they also have property in Ecuador , with all the investment made by
Pacific Rubiales.
Does anybody know if the future power station is considered in the
sale cause although is in preliminary stage the different permits
and licences that take years to obtain has value plus they bought the
land also and of course they have the turbines.
thanks.
not looking good :
http://ir.bpzenergy.com/releasedetail.cfm?ReleaseID=916987
this turbines will generate power from the natural gas from the z- 1 fields.
Bpz can sell the electricity business to a third party and be the one who provides the gas .
not exactly , but finance is out there for oil companys.
I hope bpz can work something similar.
debt holders don't want rigs ,platforms, ships and other assets , they
want money back and selling this assets is not that easy and remember
half of everything in block Z-1 belongs to pacific rubiales.
chaching or avimorax of yahoo message board