FORENT ENERGY LTD. V.FEN

FEN: Q3 report and liquidity

[George98]

FEN's liquidity is just C$7,000 as of September. During the upcoming bank redetermination in Q4, I think the bank will lower the existing credit line and FEN will have to find $2-3 millions to pay the difference. Or they might make a private placement. Or they might sell some producing assets.

[George98]

Why don't the top directors eliminate their salaries to reduce costs? They are very well paid although FEN is a very small producer. This has to change. 

[George98]

As expected, the merger didn't go through. FEN was a very weak player on the verge of bankruptcy as noted above. Unfortunately some believed the pumpers here and lost big time. 

[George98]

BayVicstreet, as you see I warned investors in a timely manner that FEN is going to file for bankruptcy. Hope those who listened to my early call will drink a beer for me.  Where is the resident promoter of the deal? He disappearred....

[Phonse47]

to quote RL, if it was easy everyone would do it. I am still invested. Liquidity is a not good true, the underlying assets may still provide some lift. Like rental property with no tenant. I wont raise a beer to "an I told you so" George. Win or loose I am hanging around to see.

[Theconsortman]

Who is RL?   This thing is toast. Lands halfway through their term, no capital to prove them up, expensive G&A. Stick a fork in it.

[BayStreetVic]

Who is RL indeed. The man was completely MIA from the day he came on to the day he unceremoniously left. If you’re only as good as your last job, he should now be shining shoes at the airport. They should just pull the plug as they’ve gone silent. The phones are not being picked up and emails are going unanswered. Pitiful..

[Phonse47]

once again Baystreetvic, you disappoint. I appreciate truth and facts. Some appreciate whine and disparaging remarks. RL in fact was one of the larger shareholders and to my memory invested in excess of 670K personally. I found him to be present and called him often. he is probably rolling his eyes and wishing I called a little less. Still he took the calls. My take is he and team worked

[Phonse47]

Mr. Robyn Lore served as the Chief Executive Officer and President of Forent Energy Ltd. from June 30, 2015 to January 23, 2017. Mr. Lore has held numerous senior positions over more than 25 years in the industry, including President of Petroland Services Ltd. He served as the Chief Executive Officer and President at Toro Oil & Gas Ltd. (alternative name Kallisto Energy Corp. and Arrow Energy

[BayStreetVic]

Whatever. You're only a good as your sharprice which currently, is meeting expectations. Looks like the Fat Lady is ready to take the stage.  

[Theconsortman]

Sounds like the Big Man wants his money back and he has sent Knuckles and Tiny over to collect. Good thing for Fen is  that with all that  staff they will be able to barricade the door with the board room table.

[BayStreetVic]

Probably explains why they are not communicating with anyone. "Someone’s at the door, quick turn out the lights!!"…cowards..

[Phonse47]

Hey Bay, try the Blues cheese, it may enhance your whines :)

[BayStreetVic]

Nice.. Do you want a cheese string to go with your FEN kool-aid.