Arcan Resources Ltd ARNBF

the bank calls the shots now.....

[teevee]

next spring when the bank reviews the line of credit will tell all. No better offer came in to trump Aspenleaf deal so if oil prices drop, regardless of hedges, the banks may call the LOC.....then the asset goes to bid. All the bank cares about is getting its money back, so i doubt a bid would be much over bank debt, leaving shareholders zero, and debenture holders maybe 5 or 10 cents on the dollar if there is more than one bidder on the assets. Could the reason why CPG and LTS voted this deal down is because they would rather buy the asset from the bank and not pay the shareholders or debenture holders anything? Both shareholders and debenture holders had their chance to accept the Aspenleaf deal, and now are at the banks' mercy, and trust me, the banks don't have any..........

[rad10]

We shall see Teevee.  Time will tell. Aspenleaf can go enjoy their fishing trip. https://www.calgaryherald.com/business/energy-resources/Aspenleaf+going+fishing+after+Arcan+slips/10134345/story.html?__lsa=ab1d-1009 And hopefully come back with a simpler, less controversial offer.  Sometimes when you try to be too clever you end up tripping yourself up.  The offer was

[teevee]

if the banks are content to renew the LOC, then debenture holders can look forward to being paid with stock at market prices. I doubt debenture holders  will like that, resulting in a stampede to the exits after massive share dilution. 

[rad10]

Nor will the equity holders like that Teevee -  which means it will probably not happen.   There will be an amendment to the note, but we don't even need to worry about it for the best part of two years - which in my experience is a lifetime in the oilpatch ............. We have been through this teevee.  The deal has been rejected, so scare mongering isn't going to change

[darkstream]

CPG will eventually get involved if there is value in their opinion

[TSX-News]

This post has been removed in accordance with Community Policy

[seriousinvest]

Nothing you have ever posted bears any relation to the truth.  The deal had a total consideration of more than 2x the amount of the bank debt.  The company is, to my knowledge, not in violation of any of its bank covenants.  Have you ever dealt with a bank?  They are very comfortable with their loan and I am quite confident that they will do nothing that will cause any dramatic

[Rouski10]

he is probably a short seller loosing ground...