Bellatrix Exploration Ltd (Canada) BXEFF

Judge Sides With BP

[mjhayman]

Looks like Bellatrix contract with BP (as documented under Motions on PWC today) is binding so I'm not sure what the implications will be going forward. Still hoping for the best!

[RichyRich$]

I noticed that too. Looks like it happened Feb. 4 but just posted now. They showed the savings of not selling NG through BP until contact end this October would save Bellatrix $14 Million. So it could mean they don't gain that extra $14 Million. However... it said that if the contract holds, other court hearings would be held to decide on an amount owed since they're selling through AECO

[mjhayman]

It's a ton of money as of now, that's the entire float! I'm not sure they dont want to sell purely to get away from the CEO, he is a total disaster. If they didnt hedge as of late we are done! The payroll needs to be cut in half! I do not support this team being paid a penny more, I will not be calling. 

[RichyRich$]

What crack are you smoking MJ?... saying "if they didn't hedge of late we are done." The whole lawsuit with BP was to get loose from hedges and sell NG directly in Alberta through AECO which has been sky high the last 4 months. Once again your Bull Shiit blowing smoke on here reminds me why I stayed off theis message board the past few months. Lol

[mjhayman]

Once again if they didn't hedge at higher prices over the last 4 months we are done.