I liked this part: "The holder of the largest of these notes is working with the Company to restructure the consideration that he and others will receive in connection with the Company's acquisition of TEC."
Better than NOT working with them, eh?
This seems to tell us about their anticipated production:
"TEC has entered into certain commodity hedging transactions representing approximately 85% of the Company's estimated production over the next 42 months. The Company has hedged approximately 500,000 barrels of oil over the period utilizing costless collars with a floor of $40 per bbl and a ceiling of $67.10 per bbl. Similarly, the Company has hedged approximately 1.7 Bcf of gas over the same period with a floor of $6.00 per MMbtu and a ceiling of $9.10 per MMbtu."
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
