Q stock Traders

[geopressure]

Would someone here look @ DUNR? They are an oil & gas exploration & production company operating in shallow water GoM. The have some huge prospects, one of which was drilled earlier this year, but is still about 2 years from production. This discovery houses 133 million barrels, 26% goes to DUNR, or about $2 billion worth of reserves. It is common practice to down-play discoveries for a year or so in order for operators to claim the drilling cost on their taxes, and this is what is currently going on, though the well we be sidetracked, completed and will deliver huge revenue within 2 years.

Unfortunately, they own $300 million to Bond-Holders & this is due next summer. Alan Bell, the CEO from the EPL bankruptcy has been brought in to restructure the company...

I would appreciate someone's opinion who knows more about bankruptcies than I do... I know that it didn't work out well for EPL shareholders... Thanks