Arcan Resources Ltd ARNBF

no debt, hedged oil price

[dbinvestor]

so now this operator has producing assets and no debt . not bad for alberta oil plays.

...and they have hedged the price of oil  into 2016...

this stock is now a different animal

[filefish]

Its more like a different kind of DOG. They  are not debt free. They are free of the Debentures but still have bank debt of 150 million or so which comes up for re-determination when their credit line is reviewed in a couple of months. Its going to take a lot of positive news to move a stock even a few cents when you have a float of 1,300,000,000 shares.  

[dbinvestor]

I expect they'll do a reverse split to reduce the float

[righand2]

Yup, they'll do a 100/1 consolidation, then the share price will fall back to 3 cents. If you think this is a good investment, you are friggin nuts.

[teevee]

there is still the matter of the bank debt, however, with hedges in place, an opeertunistic offer could come quickly. If such an offer increased the recovery for former debenture holders who now own the majority of the stock, an offer could be quickly accepted when put to a vote.......

[dbinvestor]

I'm afraid to say it here because I may get beaten up but I see a slow increase in price happening if the oil price hitsthe 55 to 60 mark.  Although I  voted against  the debenture conversion  the company  is more attractive now with the long term debt gone.

[rad10]

no doubt it was a douche bag move, but lets hope you are right

[dbinvestor]

Looks like its starting ... I had expected it to hover around here for a month or so.