Replies to post #52220 on Worthington Energy, Inc. (fka WGASQ)

[mdimport]

One of the problems is that shareholders face the risk of a R/S. If that were out of the equation, with the share price at its current level, people might be tempted to take a buy risk even with the ongoing dilution (now around 45M per week).

The debtholders convert at 55% discount based on the lowest price point. That's around $0.00018. Its provides them good profits when selling even at $0.003.

the DH seem to want shares here, md. i have a pretty good idea of the value of VM-179, given how EXXI is drilling about 2,000 ft away on their merlin well.