IM LONG ON SARA
HERES WHY, Its still generating revenue and has an experienced Management team ,all we need is some news and this will boom
All first and second lien debt was discharged. All shares of common stock outstanding prior to bankruptcy continue to be issued and outstanding, as noted above. In addition, the company is substantially debt-free at this point, and its outstanding shares remain unchanged.
SARAQ has a experienced team in place. Thomas Cooke, Andrew Clifford and Rex White, Jr. continue to serve as directors. From here, management “plans to evaluate retained assets with a view to developing a post-bankruptcy plan of operations”.
Mr. Cooke has 30 years executive experience as an Independent Oil and Gas Producer. His many accomplishments include the founding of a wholly owned company, Texas Petrochem, Inc. (TPI) in 1987.
Now commanding a market cap of $10.5M, SARAQ has a clean slate. Oil price will define where the stock trades going forward. It’s out of bankruptcy because it’s debts have been wiped out. But that doesn’t necessarily mean it will succeed. That said, the company has raked in $27.88 mln on a trailing year basis. And it has large proven reserves
