Replies to post #449 on Buccaneer Energy Ltd. (fka BCGFQ)

[fishin100]

It doesn't look good.


ASX RELEASE – 17 FEBRUARY 2014
WEST EAGLE #1 CEASES OPERATIONS

FINANCIAL POSITION
Buccaneer will need to have access to additional working capital in the short term in order to undertake the required steps to repay the Meridian Facility by 30 June 2014 (refer to the announcement dated 28 January 2014). This may involve, amongst other things, a sale of assets and/or capital raising.
The Board of Buccaneer is working with Meridian and the company’s advisors to agree on a plan of action, details of which will be announced as soon as an agreement has been reached.


******************************************************


Teetering on Bankruptcy?

http://inletkeeper.org/blog/buccaneerbadexample


(I'm out some big dollars on this one, am hoping for a miracle)