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Post by treefarmer on Mar 19, 2015 6:43:01 GMT -7
STEP has a remarkably beautiful website, better than many public companies, these guys are the real deal. Buying the Gasfrac public shell and the technology would leap them forward in many ways. And it looks like STEP already had plans to move into the USA market, see the entrepreneur video www.stepenergyservices.com/how-we-do-it/watch-and-learn
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Post by zukicow67 on Mar 19, 2015 7:32:29 GMT -7
They are a solid "coil tubing" company, Canyon Services has been fracing through the STEP equipment and rumor has it that STEP wants to collect the frac revenue now and that STEP (or the group that financed this purchase) are looking to sell the LPG technology...
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Post by fora182 on Mar 20, 2015 6:58:54 GMT -7
EY Court order sale approval dated March 16th, Service list contains Bennett Jones LLP as counsel for Calfrac?. Thought's
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Post by cher on Mar 20, 2015 7:53:18 GMT -7
My thought, fora182...(totally novice) maybe two different buyers? Maybe one bought the equipment and IP and another bought the shell of Gasfrac that was left to merge into instead of an IPO putting them more quickly on the exhange??? Just speculating here...IMHO. If nothing else, passes the time until we know what really happened!! Does this scenario even sound feasible? Anyone else's thoughts?
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Post by treefarmer on Mar 20, 2015 9:31:52 GMT -7
Cher, that is an interesting and totally feasible scenario. And way more interesting to speculate than sitting idle.
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Post by fora182 on Mar 20, 2015 15:32:03 GMT -7
The Courts have given there approval in Canada and US. STEP energy is the purchaser.
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Post by cher on Mar 20, 2015 17:37:24 GMT -7
What makes you so positive on that?
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Post by fora182 on Mar 20, 2015 17:55:48 GMT -7
News alert on Yahoo finance
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Post by cher on Mar 21, 2015 5:57:09 GMT -7
Thanks fora182.
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Post by glasairx on Mar 23, 2015 6:22:54 GMT -7
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Post by viprgtsr on Mar 23, 2015 11:50:04 GMT -7
"Analysts have said it’s unlikely any sale would produce enough funds to benefit holders of GasFrac shares or other unsecured creditors."
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Post by glasairx on Mar 23, 2015 12:43:19 GMT -7
it's always possible, but highly unlikely in this case, that new shares issued for sale. but because it is bought by a privately held company this will not happen and we will not be able to invest in STEP Energy Services.
one could hope that with this acquisition, including debt, that they will do a public offering to raise the money needed to pay down that debt.
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Post by bruiser572000 on Mar 24, 2015 12:10:07 GMT -7
My account shows over 90,000 shares sold and up to .05. any thoughts. Best case, stock swap to become public. Worst case, somebody is a real gambler and idiot
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Post by okamboloto on Mar 24, 2015 12:21:29 GMT -7
My account shows over 90,000 shares sold and up to .05. any thoughts. Best case, stock swap to become public. Worst case, somebody is a real gambler and idiot if my math is right ~90k shares moving around .05 even best case means $4k of money moving around. Not much going on here other than the typical price movements of penny stocks. Although as a bag holder, I want this thing to pop!
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