Bellatrix Exploration Ltd (Canada) BXEFF

Energy

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

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Bellatrix Exploration Ltd (Canada) > Alberta eyes 'Liquidity Package' for Oil & Gas Companies

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Comment by RichyRich$on Apr 22, 2020 2:57pm

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Post# 30940745

RE:RE:RE:RE:RE:Alberta eyes 'Liquidity Package' for Oil & Gas Companies

I verified with the PWC monitor that the restructuring in March - May 2019 was the Bank/Lenders swapping $110M for 83% ownership of the common shares. The monitor verified that if the common shares go to zero, the bank/lender loses $110M. No recourse. Banks won't chose to lose $110M when Bellatrix is now banking cash and not accumulating debt. Bellatrix is able to sustain right now with AECO NG around $2.00 and expected to trend up 2nd half of the year. With Bellatrix being able to sustain... no way they would walk from $110M. Especially now with the FEF energy bailout money as insurance. So you're saying a portion of the Total Debt is payable in US but not all? I would assume they used Canadian Banks being a Canadian Company. Either way it was C$375M and the Monitor updates on PWC projects they're banking cash by June 8. No extra debt accumulated.

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