Cougar has definitely had a promotional past - SISM was putting out most of it. Google SISM Cougar to see some of the pieces that were put out - that on one hand puts a bad taste in my mouth. On the other hand, to Cork's point - the assets aren't completely flimsy (they aren't insanely robust either). If I try to put myself in the shoes of the DIP lender/major shareholder, I think I might be more inclined to try and keep the share structure in tact, take my pound of flesh in cheap shares/warrants, and spin a comeback story around getting the wells back in production with the pipeline running again etc. The promotional past suggests the powers that be here would rather 'run a public company' than an oilfield. I'm ok with that if I can get in around a nickel. :) For now I plan to accumulate a few more and watch the flavor of the news updates that come out. The DIP has been approved according to court docs, so the deposit should be made shortly to reopen the wells - really interested to see if and how that gets described by the company in a press release.
