Lightstream Resources Ltd. LSTMF

On A Few Green Days

[UppersDowners]

we go nowhere or down so I expect LTS not to meet obligations in June and be broken up. It is not looking good.

[Roughrider27]

Agreed , oils been unleashing last while and this continues to decline  . That's why I'm out and waiting 

[oilman53]

If I had to guess i would say the management of LTS is busy negotiating themselves some very fat payout packages...  Screw the shareholders and the bondholders, they will do what they do best..Make money for themselves!

[UppersDowners]

I agree oilman53 as Wright has only looked after himself and surprised that Brett Wilson being on the board did not stop this madness long ago. I am sure Wright and the boys have been planning their departure for years and have squeezed every drop they could from the company. I just hope he does not land on his feet and start a new company and collect is million dollar salaries. Just to think a

[Roughrider27]

They're all in bed ( including wilson ) to make huge $$ to next company that buys it for penny on the dollar . IMHO 

[DocMailloux]

They have enough cash flow in Q2 to cover interest , getting the extra 121 million to cover the credit line shortfall should be feasible in this environment ... 

[oilman53]

Current assets for Q1 48 MM  currrent liabilities 90 MM  add 121 MM for the LOC.  FFO negative for Q1 and according to Company negative for first half as well.  No cash at all coming in for extra interest payments so no chance of borrowing any more money.  

[DocMailloux]

Negative based on a 35$ wti avg , please be at least a little transparent 

[oilman53]

Not really dude, they use 45 for Q2.  Company also carries an abandonment liability of 233 Million buckaroos.  

[DocMailloux]

Well we're already around 50$ and they assumed exchanged rate at .77 . Again please be transparent they have until mid July to shore up the cash for the shortfall , interest paiement will be taken care off before then . Also wti will probably avg more around 55 wti for Q2 it's marching towards 60$ fast . 

[oilman53]

Dr Rock, quit patronizing me, you are the one who is full of shiite..

[blade86ca]

Docmailloux.... at this point it does not even matter if they are slightly cash flow positive or neagative for come June they gotto come up with the 121 million somehow. The SP will not move anywhere till they annouce something before then. The only thing that will save them is obviously assest sale and in this enviornment where all oil and gas companies are trying to cut costs at every

[DocMailloux]

They sold none core for a total of 729 million $ when oil was trading at 100$ including some  to CPG which by today's price you could say CPG overpaid for LTS assets in 2014 .  Hey its its all relative no one expected oil to stay this low for this long , same with LTS , if the company goes under its sad because its happening when the cycle as bottomed and we are entering a sustained

[blade86ca]

Yes I remember that assest sale to CPG just prior to the oil collapse very well. That IMO was pure luck on LTS part. The only reason they sold assests was definetly not because Wright and BOD actually thought about protecting the balance sheet. They did the sale because the market itself had been constantly sending a message to LTS ( via analysts , money managers etc) that they had too much debt

[DocMailloux]

Alright 729 million $ in non core asset disposition at the top of the market is pure luck !!! And what do you call CPG's move to buy it bad luck lol wow . Ok your just shooting Shiite now , no one expected this bear market to go on this long VEnezuela is running out of sugar and toillet paper !!! There's 2 trillion dollars of investment wiped out at the ten low .... like I posted earlier

[bushhog1]

In my opinion LTS has done a great job to survive this downturn. Their Balance sheet is solid after writing off all their intangibles  and revaluing their assets downwards. Its unfortunate that the Banks decided to cut their LOC at this time even after LTS was paying down their LOC Debts. I can't see LTS not being able to raise alternative funds to pay off  their LOC's

[bushhog1]

Like one Poster said, LTS is hitting an all time low with oil prices going up and also after just making a profit of $0.09 cents per share in Q1 2016. Shares at $0.16 and making a profit of $0.09.....Unbelievable !!

[oilman53]

You should really learn to read balance sheet and income statement.  The gain you refer to includes a foreign exchange gain which is a non recurring and a non cash positive item (whatever US balance is your account has to be converted to Canadian dollars for tax purposes even though it stays in that currency) FFO is a much more accurate reading of what a Company generates in cash that can be

[blade86ca]

I never once said CPG made a good buy. Infact CPG have their own problems with high debt levels at around 2.4x if I remember of the top of my head, not high but getting high relative to its peers. Atleast CPG management is doing something about it by recently cutting dividend again as well as stating they will grow organically now for a while and not be issuing anymore shares / taking on more debt

[oilman53]

He was very careful on selecting his board of directors..

[DocMailloux]

He was also selling non core assets for around 729 million $ ... 

[DocMailloux]

I think there working hard to get financing done , and they should be able to do it with crude going to 60$ ,  there realizing around 40$ Canadian per barrel at 55$ wti If you take into account exchange rate . at 55$ wti LTS is worth 2 billion $ Canadian . now please show me something that brings you some credibility .