Home > Boards > US OTC > Delisted > Oleo e Gas Participacoes Sa, Brazil (fka OGXPY)


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eddy2   Saturday, 04/26/14 11:11:57 AM
Re: None
Post # of 652 

One of the greatest Canadian business icons was on the down flight of 447 when it flew out of Brazil for France that held a huge equity stake in the company and who had put up a fortune in collateral to underwrite the debt known a collateral to the laymen.

Thank god for live insurance bought and held by the company on all officers who put up the collateral.

This has allowed the company to resell the equity position held by this individual and put up new collateral.

the collateral will be sold as new equity and the money will be used to go forward with hopefully more luck then before to find oil in the area of interest.

Collateral is often held as a bond that can be sold or equity that can be sold or held without notice.

Time is running out they need to find oil and fast.

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