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Alpha Energy - Looking forward to 6000 BOPD

Good information 👍

pkli899      ( Date: 18-Feb-2020 13:31) Posted: I referred to that particular report. Not saying they didn' t default on other loan. Anyway, ING loan is not comparable to AIDEA' s. And Alpha Energy had reached an agreement with AIDEA to restucture the loan in Jan20. Now is whether other creditors want to come on board to resolve the matter or not. Winding up the company is not advantageous to small creditors. Especially the main creditor is a govt authority. superstartup      ( Date: 18-Feb-2020 12:16) Posted: They defaulted on both la. ING 1s

 

I referred to that particular report.
Not saying they didn' t default on other loan.
Anyway, ING loan is not comparable to AIDEA' s.
And Alpha Energy had reached an agreement with AIDEA to restucture the loan in Jan20.
Now is whether other creditors want to come on board to resolve the matter or not.
Winding up the company is not advantageous to small creditors.
Especially the main creditor is a govt authority.

superstartup      ( Date: 18-Feb-2020 12:16) Posted: They defaulted on both la. ING 1st pkli899      ( Date: 18-Feb-2020 12:13) Posted: This report got error. Failure to repay loan is not to ING! The loan default is to: Alaska Industrial Development and Export Authority, or AIDEA, their main creditor!

 

Now we shall wait and see what happens next?

Alpha Energy off to brisk trot on Mustang's first oil

WED, NOV 06, 2019 By ANITA GABRIEL (Singapore)

LOSS-making Alpha Energy Holdings has finally caught a break.

The Catalist-listed firm's core asset, the Mustang well in Alaska's oil-rich North Slope, has struck "first oil" in production as well as sales under an offtake pact with an oil major.
Alpha Energy said...

 

It actually matters - because the creditor is coming to arrangements with the different debtors. So whatever ING rubbish is just going to worry the people who bought into alpha shares. Hopefully there?s a good arrangement coming up.

gravity8888      ( Date: 18-Feb-2020 12:20) Posted: Doesn't matter liao.. Wait for it to unhalt if any

 

Doesn't matter liao.. Wait for it to unhalt if any

 

They defaulted on both la. ING 1st

pkli899      ( Date: 18-Feb-2020 12:13) Posted: This report got error. Failure to repay loan is not to ING! The loan default is to: Alaska Industrial Development and Export Authority, or AIDEA, their main creditor!   HendriJB      ( Date: 18-Feb-2020 11:31) Posted: CATALIST-LISTED Alpha Energy called for an immediate trading halt on Monday night over its failure to repay US$3.1 million to ING Capital on Oct 1. The oil exploration and production firm had received a notice from ING Capital on Nov 14 to "accelerate" the firm's indebtedness, due to its failure to make payment of approximately US$3.1 million on Oct 1 and to declare the entire principal sum of all debt owed to ING Capital immediately due and payable, said the firm in a statement. Earlier in May, Alpha Energy had restructured a loan it took from ING Capital in 2015 to fund the 95 per cent of tax credits available to working interest owners of its Mustang oilfield in Alaska. The firm, along with other loan parties ? TP North Slope Development (TPNSD) as borrower and BRPC as operator ? owed ING Capital a loan balance of US$13.3 million as at June 7. Under the agreement, Alpha Energy and TPNSD have to make repayments to ING Capital in quarterly instalments of US$600,000 starting June 15, 2020. This is the second time the loan parties restructured the loan facility, the last being via a term sheet entered in Sept 6, 2018. Its debt to ING Capital had matured on May 1, 2017. Alpha Energy said it is currently engaging in further negotiations with ING Capital which are (sensitive in nature) and involve (key assets) of the firm. To avoid any "irregular movement" in share price and prevent "irregular trading activities that may result from the leakage of any information", the firm has called for the trading of its shares to be suspended with immediate effect.

 

Yes, TBT not first time made mistake liao.
Just that this time nobody sound them out.

Audermas      ( Date: 18-Feb-2020 12:07) Posted: I think u should read all the announcements - businesstimes got it wrong from the announcements by alpha. It?s not that straightforward but I don?t think the lenders in question is ING.. HendriJB      ( Date: 18-Feb-2020 11:31) Posted: CATALIST-LISTED Alpha Energy called for an immediate trading halt on Monday night over its failure to repay US$3.1 million to ING Capital on Oct 1. The oil exploration and production firm had received a notice from ING Capital on Nov 14 to "accelerate" the firm's indebtedness, due to its failure to make payment of approximately US$3.1 million on Oct 1 and to declare the entire principal sum of all debt owed to ING Capital immediately due and payable, said the firm in a statement. Earlier in May, Alpha Energy had restructured a loan it took from ING Capital in 2015 to fund the 95 per cent of tax credits available to working interest owners of its Mustang oilfield in Alaska. The firm, along with other loan parties ? TP North Slope Development (TPNSD) as borrower and BRPC as operator ? owed ING Capital a loan balance of US$13.3 million as at June 7. Under the agreement, Alpha Energy and TPNSD have to make repayments to ING Capital in quarterly instalments of US$600,000 starting June 15, 2020. This is the second time the loan parties restructured the loan facility, the last being via a term sheet entered in Sept 6, 2018. Its debt to ING Capital had matured on May 1, 2017. Alpha Energy said it is currently engaging in further negotiations with ING Capital which are (sensitive in nature) and involve (key assets) of the firm. To avoid any "irregular movement" in share price and prevent "irregular trading activities that may result from the leakage of any information", the firm has called for the trading of its shares to be suspended with immediate effect.

 

This report got error.
Failure to repay loan is not to ING!
The loan default is to:
Alaska Industrial Development and Export Authority, or AIDEA, their main creditor!

 

HendriJB      ( Date: 18-Feb-2020 11:31) Posted: CATALIST-LISTED Alpha Energy called for an immediate trading halt on Monday night over its failure to repay US$3.1 million to ING Capital on Oct 1. The oil exploration and production firm had received a notice from ING Capital on Nov 14 to "accelerate" the firm's indebtedness, due to its failure to make payment of approximately US$3.1 million on Oct 1 and to declare the entire principal sum of all debt owed to ING Capital immediately due and payable, said the firm in a statement. Earlier in May, Alpha Energy had restructured a loan it took from ING Capital in 2015 to fund the 95 per cent of tax credits available to working interest owners of its Mustang oilfield in Alaska. The firm, along with other loan parties ? TP North Slope Development (TPNSD) as borrower and BRPC as operator ? owed ING Capital a loan balance of US$13.3 million as at June 7. Under the agreement, Alpha Energy and TPNSD have to make repayments to ING Capital in quarterly instalments of US$600,000 starting June 15, 2020. This is the second time the loan parties restructured the loan facility, the last being via a term sheet entered in Sept 6, 2018. Its debt to ING Capital had matured on May 1, 2017. Alpha Energy said it is currently engaging in further negotiations with ING Capital which are (sensitive in nature) and involve (key assets) of the firm. To avoid any "irregular movement" in share price and prevent "irregular trading activities that may result from the leakage of any information", the firm has called for the trading of its shares to be suspended with immediate effect.

 

I think u should read all the announcements - businesstimes got it wrong from the announcements by alpha. It?s not that straightforward but I don?t think the lenders in question is ING..

HendriJB      ( Date: 18-Feb-2020 11:31) Posted: CATALIST-LISTED Alpha Energy called for an immediate trading halt on Monday night over its failure to repay US$3.1 million to ING Capital on Oct 1. The oil exploration and production firm had received a notice from ING Capital on Nov 14 to "accelerate" the firm's indebtedness, due to its failure to make payment of approximately US$3.1 million on Oct 1 and to declare the entire principal sum of all debt owed to ING Capital immediately due and payable, said the firm in a statement. Earlier in May, Alpha Energy had restructured a loan it took from ING Capital in 2015 to fund the 95 per cent of tax credits available to working interest owners of its Mustang oilfield in Alaska. The firm, along with other loan parties ? TP North Slope Development (TPNSD) as borrower and BRPC as operator ? owed ING Capital a loan balance of US$13.3 million as at June 7. Under the agreement, Alpha Energy and TPNSD have to make repayments to ING Capital in quarterly instalments of US$600,000 starting June 15, 2020. This is the second time the loan parties restructured the loan facility, the last being via a term sheet entered in Sept 6, 2018. Its debt to ING Capital had matured on May 1, 2017. Alpha Energy said it is currently engaging in further negotiations with ING Capital which are (sensitive in nature) and involve (key assets) of the firm. To avoid any "irregular movement" in share price and prevent "irregular trading activities that may result from the leakage of any information", the firm has called for the trading of its shares to be suspended with immediate effect.

 

CATALIST-LISTED Alpha Energy called for an immediate trading halt on Monday night over its failure to repay US$3.1 million to ING Capital on Oct 1.

The oil exploration and production firm had received a notice from ING Capital on Nov 14 to "accelerate" the firm's indebtedness, due to its failure to make payment of approximately US$3.1 million on Oct 1 and to declare the entire principal sum of all debt owed to ING Capital immediately due and payable, said the firm in a statement.

Earlier in May, Alpha Energy had restructured a loan it took from ING Capital in 2015 to fund the 95 per cent of tax credits available to working interest owners of its Mustang oilfield in Alaska. The firm, along with other loan parties ? TP North Slope Development (TPNSD) as borrower and BRPC as operator ? owed ING Capital a loan balance of US$13.3 million as at June 7.

Under the agreement, Alpha Energy and TPNSD have to make repayments to ING Capital in quarterly instalments of US$600,000 starting June 15, 2020. This is the second time the loan parties restructured the loan facility, the last being via a term sheet entered in Sept 6, 2018. Its debt to ING Capital had matured on May 1, 2017.

Alpha Energy said it is currently engaging in further negotiations with ING Capital which are (sensitive in nature) and involve (key assets) of the firm. To avoid any "irregular movement" in share price and prevent "irregular trading activities that may result from the leakage of any information", the firm has called for the trading of its shares to be suspended with immediate effect.

 

I can confirm too.
There is a loan with ING and around the stated amount.

HendriJB      ( Date: 18-Feb-2020 11:26) Posted: Hi Audermas, please read this link ... 10 Jun 2019 · CATALIST-LISTED Alpha Energy is restructuring a loan it took from ING Capital in 2015 to fund the 95 per cent of tax credits available ... 👉 https://www.businesstimes.com.sg/companies-markets/alpha-energy-restructures-ing-loan-to-repay-us133m-loan-balance-in-instalments?amp Audermas      ( Date: 18-Feb-2020 10:19) Posted: The loan not even with ING leh.

 

Hi Audermas, please read this link ... 10 Jun 2019 · CATALIST-LISTED Alpha Energy is restructuring a loan it took from ING Capital in 2015 to fund the 95 per cent of tax credits available ...
👉 https://www.businesstimes.com.sg/companies-markets/alpha-energy-restructures-ing-loan-to-repay-us133m-loan-balance-in-instalments?amp

Audermas      ( Date: 18-Feb-2020 10:19) Posted: The loan not even with ING leh.. HendriJB      ( Date: 18-Feb-2020 09:39) Posted: Looks like ING going to reprocess Alpha Energy Assets as the company been defaulting on their small $13m loan since year 2015.

 

The loan not even with ING leh..

HendriJB      ( Date: 18-Feb-2020 09:39) Posted: Looks like ING going to reprocess Alpha Energy Assets as the company been defaulting on their small $13m loan since year 2015.

 

From a banker in cimb

pkli899      ( Date: 18-Feb-2020 09:42) Posted: Where u got the news? HendriJB      ( Date: 18-Feb-2020 09:39) Posted: Looks like ING going to reprocess Alpha Energy Assets as the company been defaulting on their small $13m loan since year 2015.

 

Where u got the news?

HendriJB      ( Date: 18-Feb-2020 09:39) Posted: Looks like ING going to reprocess Alpha Energy Assets as the company been defaulting on their small $13m loan since year 2015.

 

Looks like ING going to reprocess Alpha Energy Assets as the company been defaulting on their small $13m loan since year 2015.

 

Maybe

gravity8888      ( Date: 12-Feb-2020 14:28) Posted: Maybe the new company got other shareholders in it?

 

Maybe the new company got other shareholders in it?

 

Wondering what are trying to do

 

This I dunno. 
Only know same person owned.

HendriJB      ( Date: 12-Feb-2020 13:50) Posted: Close one Company, and open another Company? pkli899      ( Date: 12-Feb-2020 13:45) Posted: Actually, same owner. From one company transferred to another only