Ok Ken...Why don’t we bury the hatchet for the time being? And let’s discuss your thoughts and those of the other posters. Any personal attacks and counter attacks will serve no good. I’m here at ARH not due to the purchase of the shares but rather as a result of the merger. I held UNE shares which were converted. I am no “shill” or otherwise, simply just another investor in the co.
I was being facetious about the altruism but let’s take things at face value. So you want to "help" us. Ok, I'll play along. Are you thus implying in your post that ARH's latest press release is nonsense/fiction and that they will not proceed to financing or drill any wells? It appears that the press release is very much to the point, straightforward and matter-of-fact.
Do you feel that Rick, being the “straight shooter” that he is, is for all intents and purposes lying? Did he slowly but surely assemble the lands in Alberta for lack of other things to do? If the lands hold no potential then why focus on them so intently and exclusively? He must see or know some intimate details, beyond the scope of the Fekete report, of the resources that lie beneath.
Something doesn't add up. Why would they merge if not to create a "stronger" company out of the two? That seems to be one huge and expensive effort for nothing if your ship is sinking. Or by your analysis has already sunk. Don't you think Rick had the H&M financing lined up prior to even proposing a merger? IMHO he seems to be bright enough to line up his ducks before going that route.
Sprott and a couple of other large investors (excluding for the moment the Americans at H&M) hold a great deal of shares. So far they have maintained their positions and are waiting out the storm. Why haven’t they bailed if the situation is as dire as you imply. Wouldn't you expect big guns like those to have access to better information than "neophytes" like myself and some other "cheerleaders" on this rinky dink bulletin board? Why would Joe DeVries continue to hold well over a million shares throughout the last year, having had ample opportunity to unload in the teens and repurchase 4 times as many shares, if the whole project was destined to be forfeited on the $4 million loan? This just doesn’t make sense to me.
Furthermore just when UNE and ARH began to exploit the area the wheels came off the NatGas market. Whatever could go wrong did - still mired in low prices with no immediately foreseen relief.
I, and everyone else here, recognize that the NatGas market is pathetic right now. From what I have been reading this imbalance will ultimately revert to a more "normal" market and sooner rather than later. Do you think that ARH will still be a beaten down meek junior even after the market recovers – or shouldn’t they appreciate in value exponentially to the reserves and resources? Or will they have been forced into foreclosure? All the negative sentiment felt by the NatGas industry is currently factored into the desperately low share price.
There has been consistent accumulation YTD. And I do realize that for every buyer there exists a seller; however there has been consistent buying of large amounts of shares at a time. Us retail yoyo’s don’t usually buy a half million shares in an afternoon.
Regarding the disposition of NY assets. Management stated they would do so and, lo and behold, they are progressing in that area too. Perhaps they still have ground to cover but at least this is a start.
These are but some of the factors of the equation that I see. I understand that a healthy level of scepticism is needed but one must take into account the positives. I am not some cheerleader here. I am only posting on the modest developments as I see them. In no way have I ever claimed ARH is the second coming. However I do believe they have absolutely fantastic prospects and potential – especially with Mr. Switzer at the helm.
There you have it Ken, I do hope you respond for the benefit of all. Let’s all make an effort to keep the discussion productive, respectful and polite - thanks.
Q