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Stock impact report

Contango Oil & Gas Avoids A Costly Reorganization [Seeking Alpha]

Contango Oil & Gas Company (TX) (MCF) 
NASDAQ:AMEX Investor Relations: contango.com
Company Research Source: Seeking Alpha
Contango Oil & Gas Avoids A Costly Reorganization Summary The public offering of common stock provided the cushion needed to refinance the debt. Next goal is to revive the cash flow. Just the news of the debt refinancing alone brought a stock price jump. The focus will now be on the drilling results and acquisition prospects. The major shareholder backing makes this an interesting prospect. Contango Oil & Gas ( MCF a public offering transaction enabled This is really the first time there has been significant positive news to staunch a long, slow decline from a Wall Street growth story that was conservatively managed to a financial straightjacket that no observer a few years back thought was possible. Previous management managed to decimate the stock price as shown below. Source: Website September 14, 2019 Despite some of the worst management in the history of the industry, the board of directors stuck by the previous management for several years. The result was a decimation of a stoc Show less Read more
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