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Stock Market & Financial Investment News

News Breaks
August 12, 2014
21:14 EDTPWEPenn West delayed in filing unaudited financial statements
Penn West provided an update on its Audit Committee's review announced on July 29. Penn West said it is "working diligently and devoting all necessary resources to file its Q2 financial statements and related disclosures and its restated historical financial statements and related disclosures as soon as practicable, and in any event anticipates filing them no later than the October 14, 2014 date contemplated by the Management Cease Trade Order." As anticipated in its July 29, announcement, the company has concluded that it will be delayed in filing its unaudited interim financial statements for the three and six month periods ended June 30. The company advised lenders under its bank facility and holders of its senior unsecured notes of defaults arising from matters in relation to the decision to restate certain historical financial results and the delay in filing the company's Q2 filings. The company has obtained a waiver of the defaults under its bank facility from its lenders which, subject to certain conditions, has the effect of extending the cure period under its Bank Facility until October 14. During this period, Penn West has access to up to approximately $660M under its bank facility, approximately $250M of which has been drawn to date. Accordingly, the company believes that it has access to sufficient funds to satisfy its liquidity needs during the cure period.
News For PWE From The Last 14 Days
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October 15, 2014
06:04 EDTPWEStocks with implied volatility above IV index mean; PWE SD
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October 13, 2014
12:33 EDTPWEOptions with increasing implied volatility
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October 9, 2014
11:00 EDTPWEOptions with increasing implied volatility
Options with increasing implied volatility: ARWR PBR EXXI PWE GST GLNG WTW AFSI ETE VALE

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