Lightstream Resources Ltd. LSTMF

These guys are bankrupt

[oilman53]

The World is likely to enter a period of recession which will hurt oil demand.  Oil prices are now reflecting that and while they may bounce around a bit I don't see prices much higher than 45 to 50 bucks for the next 2 years, and maybe even lower. 
Banks are done with the oil business and are writting off more and more of their bad debt to clean their books.  There is no money coming in to save the Oil explorers drowning in debt.  Capital flow will go to the few chosen ones like CPG VET.

Their production keeps dropping at 2% a month, which means that more and more of the cash flow goes to debt repayment, about 15 dollars a barrel right now.  Their FFO (That's REAL cash flow which takes into account all money dues and not EBITDA which is meaningless for highy levered companies)  was negative in Q1 which means they have no flexibility at all with trying to better theri balance sheet

My prediction is that they enter bankrupcy protection no later than the end of July when the grace period ends for the relatively small debt payment due then