OTCPK:ARNBF - Post by User
Comment by
teeveeon Aug 21, 2014 2:19pm
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Post# 22866073
RE:Arcan and the banks
RE:Arcan and the banksjbsbill wrote:
I have watched Arcan for years - made a couple bucks in the good old days, lost a couple a little later when I didn't think it could go lower, but it did. But for the last 9 months or so, it has looked to me like Arcan is being run for its banks. It's on a treadmill that it can't get off. It couldn't make enough to get out of debt because it couldn't drill enough, and a result like this was inevitable. Why I didn't buy at 60, 50, 40 or 25 cents.
I note that LTS has suspended drilling on lands farmed into from ARN. Also, as time marches on, the quality of remaining ARN locations goes lower. Oil prices and hedges aside, it will be interesting to see if ARN can continue to tread water and maintain flat production going foward.