Long Run Explor Ltd Ord WFREF

RE:RE:RE:Massive Dilution. Bad deal for present shareholders

[Boulter]

Hi:

I think this is great news.  Someone is offering about $200M for half the company when yesterday the whole company was valued at about $100M.  The reality is that if oil prces get back to where they were when LRE was $6, LRE will only be a $3 stock.  The top end of the price range is gone folks.  If your ACB is over $3 I think you have a permanent loss situation.  I am fine with this as my ACB is $0.82. Bought more today at $0.70 to hold 122,500.

Sometimes share prices get silly low when people are fearful.  Like when I bought more NCX at $CAN1.53 and 1 or 2  months later the company was sold at $USD6 (about $CAN7.50 at the time).

I also bought TCK.B, ECA, COS, BTE, and BBD.B today.  Buy low ... wait (often years) ... sell hgh.  I am showing a loss on every single position mentioned here.  It happens and nothing can be done about short term results.  However my current holdings in these 6 companies would have been about $1.9M a year ago which I have accumulated for about $700K.  If things get back to even half of a year ago in any time frame under 5 years, I'll be well better off than a GIC.

Boulter