Enig i at det er en mulighet her, men det kan virke for øyeblikket virke som om selskapet står på en fot lent mot veggen i et brennende hus fylt med dynamitt. uten utganger.
Brannvesenet er ikke positivt innstilt, og banken står utenfor med utkastelsesordre 
Hvor ser du lys? Jeg sliter med å se hvordan de skal komme seg ut av situasjonen.
Må være med å refinansiere😎
At bond blir sikret mot verdiene og ikke står usikret slik som i dag.
Vi får bare vente å se.
Seacrest Petroleo has submitted its debt restructuring plan to a Sao Paulo court, according to a court document dated 25 April.
The Brazilian independent oil and gas production company is proposing asset sales to repay creditors. If the asset-sales process does not take place during a certain period set in the plan, secured and unsecured creditors would be repaid with profit-sharing bonds.
The plan includes the creation of isolated production units (UPIs), a special-purpose vehicle free of liens and other debtor obligations, including taxes, often used to sell assets in restructuring processes.
In addition, Seacrest is proposing a debtor-in-possession (DIP) financing, in an amount to be determined.
For secured creditors, the company is proposing a subclassification for financial claimholders, calling them “partner financial creditors.”
“Partner financial creditors” will be financial creditors which suspend the enforceability of all ongoing lawsuits and refrain from initiating new ones against the debtors, or the ones who agreed to share their guarantees with any DIP financing lender.
For these creditors, Seacrest is proposing to adjust the credits by the variation of the SOFR rate plus 4% of interest per year. The payment would be made with the resources arising from extraordinary liquidity events or in case of cash sweep.
The cash sweep mechanism will happen only if the debtors obtain operational cash equal to or higher than USD 25m, according to the plan.
In case there are no events of extraordinary liquidity, the company is proposing payment-in-kind (PIK) profit-sharing local bonds, to be repaid after 12 years.
For the non-partner financial creditors, the company is proposing two repayment options to secured creditors.
In the first, creditors will have their claims adjusted by SOFR rate after the plan’s confirmation in court, and they will be paid on a pro rata basis with funds arising from an extraordinary liquidity event or operational cash sweep occurring within six years.
The second option includes a 90% haircut, with the credits to be paid in a single installment after 15 years, adjusted by 2% per year.
Secured creditors include Banco ABC Brasil, Bradesco, Banco do Brasil, Santander, Gramercy, Itau Unibanco, Real Mercuria Energy Trading and Morgan Stanley, according to the creditor list.
For unsecured creditors, Seacrest is proposing three repayment options. In the first, creditors would be repaid up to BRL 70,000 60 days after the confirmation of the plan.
In the second, the claims would be adjusted by SOFR, and repaid with the resources arising from extraordinary liquidity events or in case of cash sweep. In case there are no extraordinary liquidity events, the company is PIK profit-sharing local bonds, to be repaid after 12 years.
The third option includes a 90% haircut, with the credits to be paid in a single installment after 15 years, adjusted by 2% per year.
As part of the plan, Seacrest is also proposing a reverse auction.
Seacrest filed for bankruptcy protection on 18 February. The group holds an integrated portfolio of onshore producing oil fields and export infrastructure in the state of Espirito Santo, Brazil.
The bankruptcy protection case includes Seacrest Petroleo, Seacrest SPE Criare, Seacrest Petroleo SPE Norte Capixaba, Seacrest Petroleo Cricare Bermuda Limited and Seacrest Uruguay.
According to the filing, the group’s debt totals BRL 3.294bn (USD 579.4m).
kan noen gi litt meg litt vosken opplæring? Selskapets eget forslag sier rett ut at nåværende aksjonærere kommet til å sitte igjen med 0
’
rekkefølgen går: sikrede lån, usikrede lån og så askjonærere .
to av alternativene innebærere ett 90% kutt til både sikrede og usikrede…
Et annet alternativ er å betale usikred 12 270 USD, altså mener de som har utarbeided forsalget at det er en veldig stor sjanse for at de usikrede får 0 og at rett over 12 000 er like bra som 10% av nåverende usikred gjeld x sansynligheten av det kommer til å bli betalt tilbake om 15 år
allikevel sendes kursen opp 40% ???
Seapt omsetter for over 2 milliarder pr. år.
Nå skriver de:
Kontantstrømsmekanismen vil kun skje dersom skyldnerne oppnår driftslikviditet lik eller høyere enn 25 millioner USD, i henhold til planen.
300milliner lån er sikret med lav rente og lang løpetid.
Produksjonen skal kraftig opp.
Nei, les det igjen -300m er ikke sikret
for sikrede kreditorere :
alternativ 1. alt av verdi flyttes til ett nytt selskap ( uten gjeld og andre forpliktelser) som så sleges og inntektene brukes til å nebeteale skired gjeld.
Dersom de ikke klarere å selge assest (no events of extraordinary liquidity,) kommer de til å utstede mer gjeld for å betale renter ( pik)
Sikred gjeld vil også bli betalt dersom selskapet klarer via drift å få inn mer enn $25m cash ila 6 år - hva de skal leve av uten assest vet jeg ikke
husk at dette også bare er et forsalg, som ikke er gjodkjent av hverken retten eller kreditorer.
Men selv om den skulle bli akseptert vil nåværende aksjonærere komme tapende ut - det er hele poenget, långivere tar mindre risiko
Dette er jo rett og slett en strategisk “halshogging” av eksisterende kapitalstruktur på den måten at kreditorer får dårlige, men prioriterte papirer og aksjonærer taper alt samt at selskapet får tid til å overleve kanskje i ny drakt.
Realiteten er at hele strukturen forutsetter at de klarer å selge eiendeler eller få ekstern finansiering uten at noen egentlig vet hvordan. Spør du meg er det i beste fall en kontrollert kollaps.
Takk for gode innspill.
Med fallende oljepris blir det ikke lettere å få til gode avtaler. Har derfor solgt meg ut av Seapt.
Smart, håper du gjorde noen kroner🙂
Og vårens vakreste eventyr fortsetter🌞Eiendelene skal selges samt styreleder og adm direktør rømmer skuta, men norske småsparere har tura!
Melding fra 7. mars som det vises til i dagens melding:
https://newsweb.oslobors.no/message/640776
Seacrest Petroleo Bermuda Limited: Update on appointment of joint provisional liquidators
Hamilton, Bermuda, 7 March 2025: Seacrest Petroleo Bermuda Limited (in
Provisional Liquidation) (“Seacrest Petroleo” or the “Company”) refers to its
announcement on 21 February 2025 concerning the Company’s decision to petition
the Supreme Court of Bermuda to appoint joint provisional liquidators over the
Company.
On 21 February 2025, by Order of the Supreme Court of Bermuda, Mr. Michael
Penrose of EY Bermuda Ltd., 3 Bermudiana Road, Hamilton, HM08, Bermuda, and
Mr. Igal Wizman of EY Bahamas Ltd., Caves Corporate Centre, West Bay Street &
Blake Road, Nassau N-3231, The Bahamas, were appointed as Joint Provisional
Liquidators (the “JPLs”) of the Company (the “Appointment Order”).
Pursuant to the Appointment Order, the JPLs are now responsible for the
business and affairs of the Company, including preserving and protecting the
assets of the Company.
For further information, please contact:
Seacrest Petroleo Bermuda Limited (in Provisional Liquidation)
c/o EY Bermuda Ltd.
3 Bermudiana Road
Hamilton HM08
SBPL.JPLs@bm.ey.com
Important information
Matters discussed in this press release may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as “anticipate”, “believes”,
“continue”, “estimate”, “expect”, “intends”, “may”, “should”, “will” and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its
control. Such risks, uncertainties, contingencies and other important factors
could cause actual events to differ materially from the expectations expressed
or implied in this release by such forward-looking statements. The
information, opinions and forward-looking statements contained in this release
speak only as at the date of this release and are subject to change without
notice.
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-03-07 22:00 CET.
du skulle lagt med dagens medling også ( ikke bare referanse) - for det er ikke noen robot som henter
tldr - likvidering kommer til å koste mer enn $500 000, og de som gjør jobben har sørget for at de får betalt ( som bare er rett og rimelig)
God 17ende mai !
Noen som vet hvorfor Seacrest går til himmels? Er det en eller annen blogg som har kommet med anbefaling, eller forsøker folk å hoppe på toget før det krasjer rett i fjellveggen
I heiaren for en tøffing du e
So the game is over, what do you reckon?
its been over for a while, almost a year since they defaulted. They couldnt come up with a solution then, and everything since has just been noise.
I know it can take a while for companies to restructure or go bankrupt ( for existing shareholders it`s more often than not, one and the same) but oslo børs should have stopped trading long ago
But now the question is whether the Bermudian court will decide in favor of winding up or restructuring! Or do you think that restructuring at this stage of things is IMPOSSIBLE?