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Steady_T

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Re: volenspros post# 11322

Tuesday, 07/22/2008 3:44:40 PM

Tuesday, July 22, 2008 3:44:40 PM

Post# of 27567
Rereading the 8k brought to mind a question that I don't recall seeing addressed on this board.

Why would JPM grant the Trust a credit line of $3,000,000?

If the wells were offline, revenues were and are minimal, how did JPM think it was going to get paid back?

Were they planning on seizing the assets in payment when the loan defualted?

Was the loan part of the snatch and grab plan?

JPM was in a very good position to evaluate the income of the trust.

There maybe a straight forward explaination for the credit line that I am unaware of.

Anybody have thoughts on this?
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