Bellatrix Exploration Ltd (Canada) BXEFF

Next 2 Quaters should be positive..

[Samd35]

i just got inversted in this .. all i know that they were hedged at very lower price for aeco last 3 quaters..and 4th quater they were hedged around 3 + dollar aeco ..even sold higher for USA NG ..so wait until next 2 earnings..

[kavern23]

Samd35...if you just invested in this...didn't you see this in third financials notes section..I mean how do you feel comfortable being in this?  They paid a director 35k a month to act as an advisor to help with the refinancing long term debt. Mr Pully earned 1 million in fees alone for completion of second lien refinancing...read below. And you get that the bank faculty is going to be

[Samd35]

Kavern23- I 100% agree with you that it's risky here..but you are ignoring all the positive things in the company..they just added assets daewoo and grafton..7,600 and 2,200 boe more ..which should bring more cash flow...And I mnt saying you buy this forget it..if it don't show by next earning ..which is in march ...I can always move my funds somewhere else. AND last I think more important

[kavern23]

How is the addition of those assets so positive? First, you are wrong on the production adds...Daewoo was 1250 BOE/Day and Grafton was 2200 BOE/Day. Here is why I think that is not postive...did you see how much Bellatrix paid for those assets per flowing barrel....they paid 5909 per flowing barrel for Grafton and they paid 7600 per flowing barrel for Daewoo stuff. Do you realize how cheap that

[TouchDown12]

Kavern... I get what you are getting at from one-side of the equation - but on the other - BXE was the natural buyer of that production since it all happened under a JV or two - so I am not so sure they could have gotten market price regardless. Also, the banks would have had a say - even if a soft say - that BXE be allowed to use some of their cash as purchase currency with the two transactions