OGX Petroleum’s (OGXPY.PK) bonds are plunging, a sign that investors are bracing for what would...

|By:, SA News Editor

OGX Petroleum’s (OGXPY.PK) bonds are plunging, a sign that investors are bracing for what would be the biggest company default in Latin America as controlling shareholder Eike Batista struggles to raise cash. OGX is set to run out of money in about a year at its burn rate as slumping production puts output goals out of reach, even after Batista pumped in nearly $1B.