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that they are for real on the OPEC deal and will do what is needed to get normalised pricing...
getting a little off topic. that's more for another page. just put out there to state that prices can go to a point where even the lowest cost producer is loosing money...same is true for gold.
The citicard link was a mistake...I had recently paid my credit card bill and inadvertently put the link there.
I've been annoyed about it too...but I'm planning to hold for quite some time.
I was just stating that it is of course possible. I didn't change any of my positions based on today's action.
I'm not showing a conversion yet...likely to happen overnight.
With Atlas it took several days to convert.
oh...didn't know it would happen mid day
not yet. Typically SDOCQ will be cancelled first.
I think the matter is under appeal.
Our best case is that the appeal is successful and they have to pay their bills...likelihood of that asymptotically approaching zero.
now I know why it is called Titan.
http://phx.corporate-ir.net/phoenix.zhtml?c=251151&p=irol-SECText&TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTExMTU3MzcxJkRTRVE9MCZTRVE9MCZTUURFU0M9U0VDVElPTl9FTlRJUkUmc3Vic2lkPTU3
http://www.titangrove.com/
these guys are long term strategic. which is what I'm trying to be. GLTY
I was quite surprised to see the Kabila kiss the popes ring.
...show's humility
http://en.radiovaticana.va/news/2016/09/26/pope_receives_president_of_democratic_republic_of_congo/1260737
buying distressed bonds in a unique field...I think I'll continue to play in it.
There are bond funds and there are stock funds...there are no bond in BK being converted to equity funds.
http://bankruptcompanynews.com/
>>>Long 1.2 Million face value Unsecured.<<<
yeah...long term.
This is also the recent SEC filling
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125072051
.......................
my calcs
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=124778895
other
http://www.insiderfinancial.com/an-update-on-sandridge-energy-inc-otcmktssdocq/116836/
Well some of my bright-burn went here. I accumulated my entire position in Titan from Brightburn sales.
I also bought Linn Energy bonds, Sandridge bonds,
along with MCEP stock and EVEP stock.
I did a lot of work on Sandridge...it's still trading cheap. You might want to take a look at the posts.
Unsecured are Class five.
https://cases.primeclerk.com/sandridge/Home-DocketInfo
I'm here long term...like all situations i would trim on the way up but I will be here several years if data doesn't change my mind.
it's the gray market...we'll have to be patient.
Here's the good news.
Positive cash flow for the month and they doubled their cash balance.
Look at docket # 153
page 4 has a clear cut cash flow statement for the month (non-gap).
They haven't had anyone in the IR department since February.
***Jennings converted his options to shares...and did not sell them.***
https://www.canadianinsider.com/company?ticker=BAA
So he paid about C$ 180,000
Double checked on SEDI.
He has 775,000 options left...so he exercised more than half.
Yeah...they also wouldn't be coming out with a new presentation nor would they be at the Denver Gold Forum
It would bother me too but they made those 3 quarters worth of preferred payments to get up to date...
I've had a lot of experience with distressed debt lately and from my experience there would be very little likelihood that those payments (which are optional) would have been made if they (management) thought that the company would not continue on under the current capital structure.
any Idea when we get on an exchange...?
BONDS...BUY THE BONDS!!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125222689
Something like 95% of workforce is local...now we know why.
Management has done a great job.
the valuation metric for the assets and a macro environment where oil and gas will be rising over the next few years along with a reduced debt load is why I'm interested...we'll see how it works out.
No...not at all...that is part of the conversion to equity, warrants and cash.
It is a very complex payout...I'm sure your smart enough to figure it out.
Unsecured notes are class five. That's the primary data points.
I haven't dug that deep into it. I'll take your word on it.
Congrats to you too! This type of investing is obviously at another level of understanding and complexity that we both happened to stumble upon simultaneously and trade successfully.
Just speaking generally.
You might want to do some valuation calculations on the other distressed issues in the sector.
Namely
Linn Energy & Sandridge Energy.
I did a lot of work on Sandridge...they'll be converting soon though...yet there is a cash back calculation.
have you held all of your position on the way up?
It's worked out quite well for us. I've sold 70% on the way up and put it into other unsecured distressed. I think this has been the best trade I've ever made.
I plan to keep the rest of my holdings through conversion and as long as possible.
170,000 of unsecured notes left. Holding for the duration.
originally had 580,000
You really should have a basic understanding of markets before you invest or trade.
Yeah...cancelled...revoked... repealed, rescinded, reversed, annulled, nullified, voided, invalidated.
it all = RIP.
It's class five in the court docs...it's all there.
as you know they have both mines running full on right now. Cash flow should be bumping up week over week. Cash flow isn't static...your smarter than that.
no...but they have a 2% preferred interest in titan.
it's in the court docs...cancelled.
They wouldn't bother with the payment if they were not in a position to continue successfully under the current capital structure..
Yeah...we cant share our insights anymore cause we have trolls who distort basic facts and say they'll file with SEC when we share relevant data.
People are so stupid.
cleaning up the books...that's what I was thinking.
Getting current on all preference shares = good news!!!