Arcan Resources Ltd ARNBF

RE:looking Back

[teevee]

Assuming the LOC is renewed at some level above the current draw down, the ARN.DB debenture holders will be paid with stock and end up with control of the company. The savings in interest might allow one additional well/year, however, if oil prices remain soft until the hedges expire, the budgets will be much tighter. ARN's share cap will explode and the problems will remain.