Arcan Resources Ltd ARNBF

RE:RE:NEW ARCAN ARTICLE!!!!!

[BaystreetBrian]

Arcan has protected itself for an oil-price slump with hedging contracts through 2016 and expects oil prices to rise to $130 a barrel within 18 months, President Doug Penner said in a phone interview.

“We are definitely carrying our fair share of debt,” Penner said.

Argent is less affected by the crude price decline than people might think because it has plenty of room left on its credit facility and has 65 percent of its revenues from oil and gas production secured by fixed hedging contracts, Sean Bovingdon, chief financial officer at Argent, said in a phone interview.