RE: Can investors take egal action against copl when this is sold16 Mar 2024 08:27
Shouston re stalking horse bid info on court info doc APPENDIX B this is lists of other companies as examples of recent SHBs and fees as comparison evidence and the notes refer to those companies above. It is titled ‘Stalking Horse Bid fee analysis’ Current as at December 27th 2023 so presume this is the latest comparable info they can use. It doesn’t refer to us.
With reference to another section,
5.3 BID PROTECTIONS re the $500,000 US apportion for the SHB it says this represents 0.63% of the purchase price so give or take currency exchanges that’s circa the entire debt of around 80 MILLION US DOLLARS secured and unsecured so if this is the level of the SHB actual bids should be higher. It won’t inc the 1.5 million DIP agreed as working capital to last until auction. Obviously our oil fields are worth in excess of the SHB ‘ purchase price’ and any other bidder will know that they’re still getting a bargain paying eg $135 million! IMHO DYOR