LGX Oil + Gas Inc ROAOF

Not a basher or a pumper

[stealth21]

This is my take on things.  It is not normal to release a nr like this when crude oil is moving north.  Somebody  was worried that share price would increase rapidly over 1dollar.  Crude closed +5$ on the day of the nr.  Trading pattern  before the nr was going to break 1.00.  Management  could not be reached until January 5th? but released a nr before the new year.  Abu Dhabi has enough spare change to buy Oilexco, but I don't think politically this is possible.  Everyone knew that bankruptcy was an option, so the nr is no surprise.  I wonder who picked up the majority of 60m shares.  Companies looking to increase their production would get Oilexco for 1TENTH their value.  If this goes bankrupt its a bidding war for the assets will cost more than a buyout.  On the other hand maybe they wanted to put pressure on potential buyers.  I work as a commercial lender, I would never lend somebody 47m If know that I won't get it back.  In my opinion their are different buyout offers out there, the right price in my opinion is $1.30.  At this price somebody that is not mentioned could scoop up Oilexco.  Oilexco has to renegotiate their contracts for the time being, oil should be in the 50-60$ by the year end.  I'm not recommending to buy or sell, this is the way I see things.