Important to know this info for those that missed it.
Tulsa, Oklahoma-based BlueStone Natural Resources has submitted a top bid of $245 million to purchase bankrupt oil and gas producer Quicksilver Resources’ assets, according to court documents filed Monday in Texas.
BlueStone, which must be approved by the bankruptcy court, was picked by Quicksilver as the winning bidder after an auction that lasted 19 hours and stretched over two days, according to court papers. Quicksilver and 13 affiliates entered court protection in March, listing $2.3 billion in liabilities, including roughly $1.1 billion in secured debt....
We all know that a spike in oil price is a game changer for may companies like Quicksilver. For those of you that follow international news from the rea source will know how this game is played.
In short, the strong greedy players are trying to get the weak players out as they started to eat from their share...they knew if they dropped the price of oil many companies will feel the pressure and go belly up. This is exactly what happened but we are still early in the game as judges know the corrupt game that is being played and the million on investors that are being affected.
No one should allow kwk shares to be stolen for pennies on the dollar. The company has a lot of assets and proven Proved reserves as of the end of 2011 were 32.6 trillion cubic feet of gas ...
Quick silver still has gas that we are not hearing about. This is worth $$$$$$$$$$
