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Bellatrix Exploration Ltd (Canada) BXEFF

Bellatrix Exploration Ltd is a Canada-based oil and gas company, engaged in the exploration, acquisition, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan. It primarily focuses on developing its two core resource plays, the Cardium and the Notikewin/Falher intervals in Western Canada. The Notikewin/Falher in Alberta's deep basin boasts abundant, liquids-rich natural gas with compelling economics. The Cardium is a highly e


GREY:BXEFF - Post by User

Post by Halepenoson Apr 01, 2019 9:43am
97 Views
Post# 29563049

shareholders should vote against the deal

shareholders should vote against the dealCurrent shareholders should vote against the Board's proposal and to go for a full assets sell and liquidation.
Why to wait and go for a huge dilution (keep only 16%), only to come back to the same point but with lower value for assets and higher debt? Only current management would benefit while the current shareholders will anyway lose 99%.
Selling the assets at a 40-50% from current carrying value will allow the current shareholders to recover more by liquidating the company now.
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