Da Chief's Shootin Range

[Bane]

CHAG! Take another look! GREAT NEWS!

Posted by: mdigiova
In reply to: None Date:4/23/2008 3:25:03 PM
Post #of 11240

Hi folks,

I finally figured out how to logon to that Troller site. Found some very interesting information. CHAG filed a new disclosure statement. Included in the package is the following:

9.01 Refinancing with Source Rock Energy of Arkansas, LLC: Upon Confirmation Debtors will enter into a financing agreement with Source Rock Energy of Arkansas, LLC (“Source Rock”), a wholly owned subsidiary of Eurenergy Resources Corporation. The purpose of such agreement is to secure one or more oil and gas related loans (“New Loans”) to effect a complete payoff of principal and interest owed to Western National Bank and CapWest
Resources, Inc. Said Loan will be in an amount of approximately $6,250.000.00. A Proforma Balance Sheet is attached hereto as Exhibit “B”. Upon Confirmation, the Confirmation Order will constitute an order of the Bankruptcy Court authorizing Debtors to enter a financing agreement with Source Rock and to immediately execute such documents as are necessary to obtain and secure New Loans to effect a payoff of the allowed claims of CapWest and Western National Bank. Debtors, upon such payment, will be released and discharged of any Obligations to Western National Bank and CapWest and Western National Bank and CapWest shall promptly release any and all claims to the property of the Debtor. In the event Western National Bank and CapWest fail to execute any document requested by Debtors to evidence such releases, the Confirmation Order will constitute an authorization and direction for Western National Bank’s and CapWest’s counsel to execute such releases as Western National Bank’s and CapWest’s attorney-in-fact upon Debtors’ request.


The will be out of BK in May and uplist there after...all shares according the exit plan will stay intact. Especially since the Owner owns 22M.

Get in while you can....prices wont be down her too long...PPS could go to 1-3.00 after the uplist with oil and natural gas at a all time high and this company produces Mil in revs.