Bridge Resources Corp V.BUK

Financing Coming

[indoubtgetout]

Sell off as predicted.    If you are still long this puppy, be prepared to wait a long time before the stock price gets back over $1.40.    After Durgano, BUK is out of money.   Say it cost them at least $30 million to drill this well, as at their last balance sheet released...they had about $38 million cash.    So BUK need BUCKs and they will need them soon!!!   I figure they will finance at $1.00 with a healthy warrant.   They will need about $100 million.   Good luck BUK!!

[nightowl21]

You may be right but the other side  is:1. Warrants will bring in 50 million as they get exercised over next year or so.2. Cash flow of $500,000 day equals ..$150 million a year.3. Credit lines could now easily go up to $80-100 million.I think BUK management has more business sense than to dilute this by another 100 million shares.JMHO.

[Sparkletooth]

So worst case scenario, if they have to do another equity financing, downside is $1.00; on the other hand, a hit at North Piper equals a market cap in the billions.  I like the upside.

[TO1]

BUK is currently negotiating a project facility, also known as debt financing, for Durango.People get all scared with financings now a days it starts getting a little pathetic. Considering that not one energy company, with reserves in the ground, has been rejected by a bank for debt to develop fields to date. So it will not be a problem to get debt to finance a proven field. The main thing here is

[losvegas]

They will get all the money they need from debt and the exercise of warrants. Anyone that suggests they will do another low-priced financing is nothing less than a liar, trying to con people. Scumbags.

[firebug]

 excelent points TO1 and losevegas

[SPARTA10]

Sell off as predicted.    If you are still long this puppy, be prepared to wait a long time before the stock price gets back over $1.40.  so i waited 1 day, is that what u consider long time? some of the posts on here r awesome to read, but some r just plain retarded..SPARTA10

[indoubtgetout]

It has come and gone....did you manage to get any???   Dilution after dilution.   Over expectations will take BUK down to the 70 cent area.   Why do you think the bought deals get done with warrants?   So the fast money can short the stock while long the warrant stupid!!  SELL!!!!

[Tinmann]

The people still whining about the recent financings and those predicting further financings need to smarten up.Durango development will be DEBT financed, hence the debt agreement with the bank of scotland. Once Durango comes onstream in October, BUK will have cash flow of over $200 million PER YEAR with which to drill for 3-4 years.So stop complaining and fear-mongering about even more dilution