Replies to This Discussion

Permalink Reply by bob blakey on September 15, 2013 at 7:40

Kathy,

Next GMX check due to be cut tomorrow.  I think if the sale was approved to the DIP they will have to keep operating until they sell the units.  Buyers could be in the wings waiting for a reduction in price.

Good news on Bosh as I have production in the Bosh

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 field from several wells.

I'm going to send you my telephone number and ask you to give me a call.  We may have similar interest in other units.

I'm glad to see Summit permitiing. I'll look it up.

Bob

707 539-2082

 

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Permalink Reply by cicero on September 17, 2013 at 10:31

Bob, Kathy & Skip,

I'm not a mineral owner of any GMXR wells but I do own common stock in the company.  I would appreciate any comment that you might have concerning the future of their stock.  I have held out hope that they would survive the bankruptcy and that the stock value would recover to a few dollars.  Thanks

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Permalink Reply by Edward J. Pocilujko on September 17, 2013 at 15:12

http://dm.epiq11.com/GMX/Project#

http://dm.epiq11.com/GMX/Project#

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Permalink Reply by bob blakey on September 17, 2013 at 17:39

Cicero, my comment would only be a guess. 

 

Edward, I have been following the site you listed since the filing on 4-1, but I am still trying to get info on the 9-10 hearing.  This is Docket #731 dated 9-10 that states it is the "virtual minutes" of the hearing but nothing in the box that would give me the results.  Any info where to go for these "virtual minutes"?

I'm sure they must be somewhere as the attorneys would all need records. 

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Permalink Reply by Edward J. Pocilujko on September 18, 2013 at 12:31

I have found on nothing on the September 9th approval.

If the Sale went thru; virtually all the Assets including the undeveloped Leasers are gone.

The following:

"Do shareholders receive payments if shares are cancelled under a reorganization plan?

Under the U.S. Bankruptcy Code, holders of debt and other creditors are given priority over shareholders. Accordingly, unless otherwise agreed by creditors or required in a court-approved plan of reorganization, shareholders would not be entitled to receive any recovery unless or until all holders of debt and other creditors with a priority ahead of shareholders in priority receive payment in full.

Shareholders are out ! There are Unsecured Debt Holders and the Preferred Debt before shareholders get anything.

I serious doubt the Preferred Debt holders will receive anything.

ED

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Permalink Reply by bob blakey on September 19, 2013 at 11:02

Got the info on 9-10 hearing.  Hearing was adjourned so that they could continue trying to resolve issues with other creditors.  Hearing to be held 10-15.

bob

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