Read Larry Connors' blog – Short Term Trading Strategies
September 14, 2009 (FinancialWire) -- Baseline Oil & Gas Corp. (Baseline) (OTCBB: BOGA | Quote | Chart | News | PowerRating) announced that Judge Jeff Bohm of the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division entered a series of interim orders on "first day" motions that will facilitate Baseline's continued normal business operations and reorganization efforts.
At the hearing held on September 1, 2009 to hear Baseline's first day motions, Baseline received interim authorization to, among other things, use the cash proceeds of existing bondholders' collateral to satisfy operating expenses occurring in the ordinary course of its business, including authorization: (i) to use and maintain existing cash management systems and bank accounts; to pay prepetition obligations owed to critical vendors; to satisfy royalty obligations on account of prepetition and post-petition sales of oil and gas; and to continue payment of employee wages, health care coverage and similar benefits without interruption.
In addition, the Court heard Baseline's emergency scheduling motion and set a hearing date of September 25, 2009 to consider both Baseline's prepetition solicitation and confirmation of its prepackaged plan of reorganization.
Baseline filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code on August 28, 2009 in the United States Bankruptcy Court for the Southern District of Texas, Houston Division. The case number is 09-36291. More information about Baseline's Chapter 11 filing is available on the Internet at www.tkworkplace.com/Baseline, including the "first day" motions, related orders and other court filings.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
http://www.financialwire.net
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
