Long Run Explor Ltd Ord WFREF

RE:RE:RE:RE:RE:RE:Back To Square One

[JohnJBond]

Its going to be interesting to see why LRE wanted out of this deal.

As a shareholder I've very pleased that deal is history.

The data room has been open since Dec 7, so 2 weeks.    LRE (and their bankers) will now have a good idea of the results they can expect.    Based on that information, LRE apparently wanted out of the private placement.

Its also worth noting that buying interest in LRE common started on Dec 7.    It has been masked by tax loss and panic selling.

Its easy for LRE to sell 1-200 million in assets from the current asset sale.

They will be selling one of their prime properties, and thats a bitter pill, but it leaves the shareholders with everything else to carry forward (without being diluted in half as well - which is what the deal meant).

PWT sold about 5000 bbls for about 200 million.   LRE should be able to do something similar.

Its possible LRE is considering a takeover offer from someone else, on a paper for paper basis, which would be complicated by having the Chinese holding shares and warrents.

In any event, I'm interested to see the out come.    

There will probably be some who form a knee jerk negative reaction, but I suspect most of those are out.