Lightstream Resources Ltd. LSTMF

Petrobakken to hit new lows

[galaxyr]

Petrobakken share price is close to an all-time low with oil close to an all time high.  What will happen if the unrest in the Middle East subsides and oil drops back to $80 (which is still a great price for oil).  Petrobakken will hit new all-time lows.

Petrobakken has increased its credit facilities to over $1.2Billion, has only a couple hundred million left on its credit line, they stopped purchasing shares back on the open market in 2010.  It appears they have a serious cash flow problem.  Top that off with a production decline of 9%.

The last nail in the coffin will be when Petrobank decides to offload its substantial stake in Petrobakken and or when Petrobakken decides to either reduce or eliminate the monthly dividend to save cash.

Does anyone see an upside.   I have been waiting and waiting for good news, but have yet to see anything in the last year. 

If it sounds like a duck, walks like a duck, looks like a duck, its probably a duck.

I don't want ducks.

Any thoughts, positive or good.