From Yahoo:
Gan ... On preferred A's BBPPQ, the way I see it, the EC is confirmation A's face value of $25/share is affirmed. PERIOD. There's only 8 million shares, (only 40M Market Cap) and redemption is triggered on change of control. PERIOD. There are only a small number trading and they're going to rocket up to face value. Fun thought: IF someone like EIG or MGT naked short them, they can go to $50 or $100 ... and wouldn't that be justice!!!! EIG's preferred at $7.50, it's face value, is about $350M.
On BBEPQ ... Common: Whatever Bonds are trading for isn't going to effect outcome for Common! Bonds should react positively to EC. It kind a guarantees them that EC is going to work to bring in highest dollar!!!! (Yeah they're disappointed they can't steal 2 Billion in retained earnings, but they'll get over it) The GUAGE: Going forward, at least for traders, the guage isn't a share price, it's THE MARKET CAP. Right now at .40 it calcs at around 80Million. When that Market Cap, (on everyone's detailed quote or summary page) gets to ONE BILLION, then quibbling about price is going to take on a different meaning. But until then: The share price is a price "correction" and it's going to correct, over 10 times higher than where it is now, and at a post haste rate! :))))
I saw the unsecured running to the Courthouse Friday afternoon, objecting to matters of "time" etc., and it made me "giggle." :)))))
I agree with you on the end of Breitburn: The company is FOR SALE on the open market and the inside deals are shot!
I really wish no one would have sold. :((((( It's a NEW DAY!
