1st NRG Corp (FNRC)

[MeltedViking]

I agree that the $FNRC situation looks somewhat bleak.

If the company that's selling the wells is indeed in Chapter 11 bankruptcy, however, that would explain a lot. I have plenty of experience in the field. This is all in my opinion, but it's quite rare for something to happen on time in a Chapter 11, especially in a complex area like energy, oil, or gas. The bankrupt company usually has multiple creditors chomping at the bit to get their share of the estate, and each of those creditors can tie up the process if they want to be difficult .

Not to mention the fact that the judge typically has to approve the sale of the company's assets, and the company itself is typically at the whim of the judge and creditors when it comes to pushing a deal through.

I don't know if anyone has info re: the supposed seller of the 600 coal bed methane wells, but as I mentioned in a post yesterday, I found an energy company in Chapter 11 in Wyoming bankruptcy court with over 2000 wells, and it's trying to get a good portion of them sold. Docket entries show that things are happening and that the process has been delayed numerous times. If this is indeed the seller - if I could confirm that it was somehow - I'd be loading up 1s and 2s til the cows came home. It'll happen, it just won't happen on our (or 1st NRG's) timeline.

GLTA, and everything above is IMO only.