Member Info for chickster

I have posted my holding as well. I also have private emails from AM and would be willing to disclose if necessary

regards Chickster

Well Ilovesushi. I don't see it that way

What is the gist of the letter you are referring to?

Bob, that is exactly what I think is happening here. If they were going to 'bump' the business I think it would have been done by now.

Exxon paid $4.9 billion I believe!

Denbury has been exploring options and is working with an advisor on a potential sale, sources familiar with the matter have previously told Reuters. Other potential buyers could include oil majors such as Chevron Corp (CVX.N), the sources said.

The company specializes in using carbon dioxide to extract oil from old wells and thus is seen as an attractive asset for oil majors and other large-cap energy companies that are starting to make bigger bets on the environmental, social and corporate governance (ESG) strategy.

Denbury emerged from bankruptcy in 2020 and its stock has performed strongly since then, thus providing an exit opportunity for its creditors who became shareholders in the company.

My own view is JV talks terminated because an agreement couldn't be reached on value. Cowan was all 'gung ho' in stating that interested parties needed to align with his own view of value in order to partner. Senior lender, dismayed at the breakdown in talks and pi**ed off with the never ending stalling and diatribe from COPL decided enough was enough and wants to see progress now. Cowan forced to step down. No more waivers and no funding so only option is to sell off some assets.

Restructuring the business by selling off some assets may be a good move in my opinion. I have been involved in restructuring deals before where some assets have been sold off and companies can survive, thrive and prosper. In the first instance COPL need to demonstrate that they can be cash flow generative to meet the SL demands - Richardson, Cowan and Gaffney are not specialists in restructuring Province are - it may well be 'last chance saloon' but at least give them that chance

Stas. Do you see a way out of this shambles?.

regards Chick

Why stay on the board if he was 'walking'?

Where do Atlas fit in to all this?

How long before miscible bank rebuilds in that scenariobNaughty?

You don't know that

Well I am prepared to wait this out (foolish or not). Defaults have happened before and been resolved.

Was Cowan the 'identified' cost saving prior to year end?

Richardson is a finance guru is he not?

If asset is real and so good financing should be no problem

It does not state who terminated the LOI.

I refer you all to this statement from Mr Cowan.

'It is my simple aim to drive maximum value from them, whilst also ensuring that if the interest being shown by certain third parties in joint venturing with us matches our own views on value, we will seek to further scale through partnership." IMO View on value clearly weren't matched

Yes Yankee, it has been like that for ages. Regards Chick

'outstanding matters' not issues

The company expects to see initial results from the higher density NGL's before the end of November 2023.

Still time yet.