I haven't seen any press release issued by Sandridge yet regarding the delisting and what their future course of action is. I hope they release something soon.
You can bet GE and his dirtbag reorg. firms will leave nothing for shareholders. He and the other thieving executives still get 3% of the pipeline since Eureka isn't included in the BK. I hope his jet crashes into a volcano. What a lying POS Evans turned out to be.
If Magnum Hunter went chapter 11 because of the weak ng prices I could accept that. What I can't accept is that lying POS Evans saying if we need any money we can always sell the pipeline. On top of that the lies about the pipeline sale in a week & the jv's. Where was the board and their fiduciary responsibilities? I hope a bunch of lawsuits get filed against Evans & the board. They will have to pay something to shareholders whether it is them or the insurance companies. If there is any kind of payout it won't be much as the dirtbag lawyers will steal most of it. My only hope is that Evans is indicted and sent to prison!
If I am not mistaken back in the summer a contract clause was put in giving GE & executives about 3 % of the pipeline proceeds.
If it turns out that they don't file BK and the common shares regain some value I owe GE an apology. I understand about the dirtbag Saudis dumping cheap oil to drive the small American E & P's out of business. If MHR goes BK that is not the reason. The pipeline and land sales could and should have been done in a timely matter. These issues were talked about by GE almost a year ago. I think GE completely mismanaged the asset sales and also miscalculated the financial condition/predicament of the company. I just have a feeling that GE's ego & lifestyle might have compromised his ethics regarding how he ran the company. If he used the ATM sales of stock to fund his personal expenses he should go to jail and hopefully for a long time!