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I'll choose not to believe that, as well as the theory of spontaneous generation.
I see.
Well, they better hurry up and get t' tranchin' if they're gonna do it cuz Tony gonna open a can a whoop-financing on em
Right, that's the VWAP.
Thought I read in the last Q though that the VWAP was to be calculated over the course of the last 10 trading days of the month, at least in the case of one conv debt holder.
Is that something different from what you mean when you say they "don't have to do it on any schedule?"
Gotta say, this is one weak start to a VWAP anti-rally.
Too early to say, but if they're going to let 100k bid at 0068 swing in the breeze for half an hour, it might not be VWAP selling after all
Yeay me.
Wouldn't guess it from todays low volume, but Tony's probably busy as heck this week (too).
Big "pinch point(s)" a' comin'
Yah I know about the pre-approvals, and what they're waiting on we can only speculate. Ain't like Tony's applying for a Discover Card here fella, and posting a dbar close date without $ in hand would just be outright illegal.
C'mon man, you already know all this stuff. You're just excited, and I've taken the bait by replying to you, so congrats; hope you enjoyed the reassuring chatter ;)
I'd say it'd be equally (if not more) misleading to remove D-Bar from the list of assets/acquisitons "in process."
As a long, you have to realize Tony's been pursuing financing for this one, and where (pray tell) would you have had the $ come from in the last 6 months? Wish you'd changed your vote on the A/S? You'd be crying foul. How long should it take to find x-million $'s without dilution? A day? A week? A week day?
Oh ya of course production volume is a factor. I'm also leaving room for the possibility that, in achieving a revenue stream (the companies first, modest as it may be) the perceived value of the company may exceed the "sum of it's parts" for "the various reasons."
Good point JPaq, and i might add that the care these companies are (presumably) putting into announcing 24-hr production says something about the relevance of the news.
Speaking for myself, it's easy to assume that the current pps has MI revenue already built in, but in terms of "market opinion" there's probably an important difference between "nearing 24 hr production" and "achieving 24 hour production"
Yep. VM's been referred to as an asset all along, and it must have been, and it must still be from a legal standpoint, even though we're duking it out in court with Montecito.
I just think the market would like to see something a little stronger than a toe hold on that asset, before pricing it in, and in lieu of a favorable settlement in the case I'm content for any re-affirmation from the company that the deal's still in play.
This makes it sound like VM197 is still in the works. Granted it could be determined that pursuing it further is not the best of "several approaches."
Either way, at least it's some fresh commentary on the subject.
I'd be more disappointed if I'd been fixin' to build a position.
I was just looking for an extra dab a whipped cream on my sundae.
Likewise back at .0069
Stingy bastages
Have to admit this low/no volume actionless morning is amusing in light of all the news and events scheduled to take place this week.
-Tony's already stated there'd be a PR on the proxy vote this week.
-Mustang Island 24-hr flow rates, while not guaranteed to be PR'd this week, it's a distinct possibility.
-Thursday marks day 1 of the 10-trading day period at the end of the month that (if I'm not mistaken) the VWAP applies to conversion price of some amount of c-debt (unless a loan "cuts them off at the pass")
-And Friday there's a ruling (on some cross claim) scheduled to take place in the case with Montecito
Could cut the suspense with a knife.
Assuming stocks only go down from R/S's doesn't seem half as naive as believing a continuous string of baseless negative predictions carries enough weight to push the pps in any direction.
At this very moment Tony could be txting any number of the 4 pending loan consortiums; "We are clear to go."
Starting to think along the same lines.
If we can get a little more on offer at .0065 I'll take a bite.
Bears come get me.
Hey, good eye x. That seems likely. Don't think we've ever had a 10 day VWAP equivalent to that pps. $50k put's them at 005.
Good catch.
Word up bro.
We're not the only ones looking to bank on this issue.
Well, you'll see on the 8k that they were also issued 10 million shares for $5000 on Sept 11, so I wouldn't use that 027 cent figure as an exclusive benchmark for much of anything.
Ya, LaJolla is/was obligated to purchase some shares according to the agreement with wgas.
You'll see on the 8k though that the average price of the shares they'll net in Sept is nowhere near .027
This one's been looking ready for a good long while.
Whole lot of stuff can take place btw now and the end of the month:
SH meeting,
results of proxy votes,
MI production #'s,
a ruling in the case with Montecito,
the possibility of loans,
entering the 10 day period where the VWAP determines conversion share prices...
All sorts of stuff, and it could be a choppy ride.
Question for me is how's it all going to sort out relative to the price rangeover the past few months.
My $'s on up.
Hey, I'm all for it! That's a win for me too.
That's IS The Viewpoint.
I'm preparing for, and expect, volatility over the next week of trading.
This post-RS drop some are expecting could very well happen. I'm not saying whether or not it's likely, but really, anyone with a few million shares to spare could easily take advantage of retail fear, and if there's enough money to be made in doing that, ya might figure it'll happen, BUT with those loans looming in the horizon and news of 24 hr production flow rates all but ready to be released, I'd at least want to have a "foot in the door" for the possibility of Tony pulling another "next day PR," difference being This Time the PR is positive.
We definitely agree on that. And whether slme has more, less, or the same net interest is of no consequence. Tony's stoked about it and so am I
The 33% working interest doesn't have anything to do with their net interest.
Working interest only means they're responsible for 33% of the total production costs.
Pretty sure SLME has a 33% interest (to our 10%), but how about that 2% we get from additional MI wells! If I-1 produces more than expected, so could 3 or for additional wells! MI could end up yielding us darn near twice what we're expecting after the first year.
I don't know how many shares of Osage Volk had but looking at the chart I see nothing to suggest there was massive sell off when he left in 2007.
Thanks x.
Next couple of weeks (esp next week*) I expect some good stuff happnin.
Correct.
Gotta remember, the only reason anyone would crap on this stock here would be to try and get in cheaper than the current price and that's the obvious play with the RS coming up, and there are likely to be 100's of others waiting for just the same thing. It may happen. We may see 005's again, but with our track record of recovering 70-120% from that price range, folks are getting nice and cozy with the idea of catching those pps falls.
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.
Anyone following DPTR's assets into PARR?
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.
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)
Ya, right around there blindy ;)
Not certain of what effect the issuance of preferred shares would have on our common share price (other than being "non-dilutive financing for VML), but I'm aok with viewing it as an $8.5 million dollar vote of confidence, if not essentially an 8.5 million dollar buy order.
Starting to lose faith in the "slow and steady rise" perspective here.
With all the possible financing opportunities looming, MI on the verge of initial production, oil $'s...not to mention the abundance of day/momo traders these days...
Thinking this might move a bit more severe if/when the proper catalyst occurs.
Hadn't considered it till today.
We'll see.
Friendly reminder to all us WGAS Superfans
Be nice to Mason AND Volk.