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Lightstream Resources Ltd. LSTMF

Energy Oil & Gas E&P
"Lightstream Resources Ltd is engaged in the exploration and development of oil and natural gas in Western Canada. Its operating areas include Southeastern Saskatchewan, Central Alberta, and North-Central Alberta."


GREY:LSTMF - Post by User

Lightstream Resources Ltd.
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Comment by blade86caon Apr 04, 2016 3:46pm
171 Views
Post# 24729163

RE:LTS is far away from Bankrupt

RE:LTS is far away from BankruptHoldernko123..... they have not issued that first lien debt yet. It is not $750M avaiable debt that they can use right away.

The state the balance sheet of LTS is in now, who would want to give them $$ without tacking on atleast 10+% interest rate on the debt ????

Plus if they gotto issue this debt very soon and oil prices stay at these levels for next month or so , when the next bank review comes in they will for sure have their LOC cut which will force them to firesale assests to cover the LOC portion they owe right away.

Management just sits quietly ( probably praying for higher oil prices ) probably because they got no real plan to tackle debt anymore except by adding more long term debt to cover short term debt.

Debt is debt in the end ... no such thing as good debt 
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