Long Run Explor Ltd Ord WFREF

leverage

[canne]

Judging from his age, Bill Andrews has been through a number of oil boom and bust cycles and either was pushed into leverage or decided this time was different - whatever, LRE, under his stewardship, leverage went so high LRE is in danger of failing, he said his strategy "blew up in his face". Seems to me Crescent Point uses the same strategy, buying properties and assuming debt while giving shareholders more money than the company makes through dividends some of which is financed by the shareholders themselves through the drip program. Bill bought into that very high risk strategy and now LRE has been led behind the shed and given a good whippin'. I got suckered by the dividend and the fact that Bill was a veteran of the oilpatch, acted too slowly when things went south and am now sitting with no shirt on my back. It was easy to see that Bill Andrews is sweating these days and will retire as soon as he can leaving behind a failed strategy and a company on life support. While I don't care for Iamwcw's style of posting, in my case at least at this point, he is essentially right and I don't think I have much of a hope of ever getting my investment back. I am not really prepared to risk more money on a hope and a prayer.