$16-18 million to be added to the NGPC coffers from Resaca liquidation...
For immediate release 25 June 2013
Resaca Exploitation, Inc.
("Resaca" or "the Company")
Result of Special Meeting
Further to the announcement made on 30 May 2013, Resaca announces that all resolutions proposed at the Special Meeting today were duly passed and accordingly the disposal of substantially all of the Company's assets to Legacy Reserves will proceed as outlined in the circular sent to Shareholders. Therefore, cancellation of admission of the Company's depositary interests to trading on AIM will occur on 5 July 2013 and the Company expects thereafter to embark on a voluntary liquidation process culminating in a distribution to Shareholders and the winding up of the Company. The Company will provide regular updates via the Regulatory News Service in relation to this process.
So Resaca is liquidating, I see $13.4 MM in a senior unsecured loan and $3MM common that looks good for use in the #$%$, are there other things I'm missing in the last 10 Q? Do you have a link to anything where we can see Resaca financials?
Well kafir. Yahoo won't let me post the link. I tried. Why don't you Google Resaca Exploitation and click on their 'news' link. That's what I did. The 'Make Whole' provision is the good thing. Sorry I can't spoon feed the information to you. Successful investing takes a little time and effort. Try.