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Creditors accepted successfull bidder. Debt is paid imo
http://www.kccllc.net/bpz/document/1560016150702000000000006
PRE has a right for Z-1 but BPZ sold all assets?
MAXM eating all the shares at bid
Committee of Unsecured Creditors accepted successfull bidder. Can we say because money pays all the debt?
News here! Succesfull bidder http://www.kccllc.net/bpz/document/1560016150702000000000006
So we can say auction results are better than a foreclose? Starting to think company did the best for shareholders. Mean, to remain a nice value. Insiders have shares and if company close doors thats all they will have
Important to remember: insiders holding more than 6 million shares. CEO Zuñiga holding 5.1 million shares
http://data.cnbc.com/quotes/BPZRQ/tab/8
Seems extension means no Assets Sale. Maybe company found finance to pay debt
Who is buying?
Accumulation is big here
Meant reorganization plan
Seems BPZ Energy cancelled Assets Sale after extension approved? No more detalles about that. A solution without selling assets looks nice. Court knows something we don't
3. The relief granted herein is without prejudice to the Debtor seeking any additional extensions of the periods provided in Bankruptcy Code section 1121
Extension approved in Court http://www.kccllc.net/bpz/document/1560016150623000000000004
"good and sufficient cause exists..." Wonder what that means
This is about to run. Smell a rally near
That would be a great news. The best for us. PRE knows Z-1 potential and maybe BPZ Energy gonna keep Gas project
Voted? well that means after Assets Sale we will continue in business
After approval company will change bid and auction dates.
Strong bid at .02 (240k shares). Good support
Says also need more time to formulate a plan. If company only wants to sell assets and pay debt does not need a plan. Imo there is something good for shareholders behind scenes
Great news from Court today. DEBTOR'S EXPEDITED MOTION FOR ENTRY OF AN ORDER PURSUANT TO SECTION 1121(D) OF THE BANKRUPTCY CODE EXTENDING THE EXCLUSIVE PERIODS TO FILE AND SOLICIT ACCEPTANCES OF A CHAPTER 11 PLAN
http://www.kccllc.net/bpz/document/1560016150617000000000001
No shares available. If you want to buy hit ask
Yes, sellers gone
RTQ .025 +38,9%
We will see who is right at the end. Bought more shares yesterday
Email from company. Facts here
XXXXXX,
Attached is the link to the motion we filed with the US bankruptcy court yesterday. We will be going through an auction process for the company. I cannot predict what the outcome will be or what value will remain for the shareholders. We have $230mln+ of unsecured creditor claims against the company.
http://www.kccllc.net/bpz/document/list/3995
Sorry I cannot give you any further details.
Rick Menniti
Chief Financial Officer
BPZ Energy
580 Westlake Park Blvd., Suite 525
Houston, TX 77079
*It says WHAT VALUE i do not see NOT VALUE
*Nothing about conversion
Value of assets. Check this document from september 2014. Just about Block Z-1
Proved reserves 16.1 million barrels of oil
Possible reserves 18 million barrels of oil
Probable reserves 27.2 million barrels of oil
http://files.shareholder.com/downloads/BPZI/4066489501x0x782909/CCA5FC03-6BA9-4E22-BF98-DE8CF5C944C0/BPZ%20IPAA%20San%20Fran%202014%20Final.pdf (page 8)
16.1 + 18 + 27.2 = 61.3 million barrels of oil (potentially)
61.3 million x $70 per barrel (conservative, could hit $100 again end of year and $200 in the future) = $4.3 billion
BPZ Energy holding 51% of Block interest
Read the same caution message in Fannie Mae and American Airlines Chapter 11 process. Btw just to remember, CEO Manuel Zuñiga holding 5 million shares
Bid .018 x Ask .025
False. BK caution message does not say that. BTW read the same in Fannie Mae and American Airlines Chapter 11 process. Now, who is buying shares?. Why the big buy interest? And why activity here increased?
That is your opinion. More assets than liabilities is the key here
Well we know Oil gonna hit $200 in two or three years. $70 is a conservative average
No problem. After Assets Auction BPZRQ will have cash to invest in onshore exploration blocks. And change to BPZR and then to BPZ again
Money or continue trading without Q. Both are good news
Almost +30% with $7k traded. Unbelievable. No sellers here just "sky falling" speculators to find shares