Bellatrix Exploration Ltd (Canada) BXEFF

RE:Judge Sides With BP

[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 now. Maybe a settlement would cost less than $14 Million and Bellatrix would still be ahead selling through AECO. Also... the wording in the conclusion almost makes it sound like the courts now about a favourable buyout that's swaying them to this decision that Bellatrix is no longer in financial distress. Maybe there's already strong buyout pending that the judge already knows about and factored that in. In a January motion post on PWC it said that Bellatrix forecast is to have $25 Million Cash by end of this April. If a settlement is made to just pay BP $10 Million damages for breach of contract, then they would still have $15 Million cash and the $377 Million debt would not get worse. We would still be in the money with a $400 Million buyout. But hopefully its higher than $400 Million. I can't see a matter of $10 Million in damages for a breach of contract that's favourable with AECO stop a potential buyer from bidding. News will probably come out soon on a settlement between Bellatrix and BP. I was thinking the courts usually favour with the opinion of the monitor. But at least the monitor bought them some time to accumulate more cash. MJ... have you tried contacting Bellatrix lately? Are they giving you any hints?