LXE's placement versus TVL's placements (10%+ insiders)profittaker1, instead of attacking me, you should learn few things about this industry first because you lack basic knowledge. Let me educate you about the basics in this industry:
Liquids = Oil + NGLs + Condensate.
When LXE says % liquids, this DOES NOT MEAN that it's Condensate. Actually, if LXE's Montney wells were rich on Condensate, LXE would report it separately like all the other Montney producers do. But LXE hides it and covers it under the "% liquids" thing. This means that LXE's Condensate volumes are low and this 45% liquids consists primarily of oil and NGLs.
Let's return now back to the key issue. LXE's insiders have NOT participated in the placement at $2.25 and also have NOT bought one single share since June 2016 when stock hit $1.50. Fact according to canadianinsider. I will welcome other facts that prove me wrong.
And things are worse than you think because according to canadianinsider.com, LXE's insiders have NOT bought one single share above $1.50 although WTI is at $52! So they have not touched the shares of their own company at $1.50 let alone at $2.25, although we are at the bottom of the cycle.
See now Traverse Energy (TVL). TVL is debt-free too, it made two placements in 2016 and insiders bought more than 10% in both cases, see facts and links:
CALGARY, ALBERTA--(Marketwired - Dec. 14, 2016) - Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) announces that it has closed its previously announced private placement of 8 million common shares. The Corporation issued (i) 2.4 million common shares at $0.40 per share and (ii) 5.6 million common shares eligible for the renunciation of Canadian exploration expenses within the meaning of the Income Tax Act (Canada) at $0.46 per share for total gross proceeds of approximately $3.5 million.
The Corporation paid an aggregate finder's fee of $120,729 to two registered brokers in consideration for placing an aggregate of 4,602,500 Shares under the Private Placement. Insiders of the Corporation participated in the Private Placement and purchased an aggregate of 861,300 Shares or 10.7% of the Private Placement.
CALGARY, ALBERTA--(Marketwired - May 27, 2016) - Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) announces that it has closed its previously announced brokered private placement of common shares issued as "flow-through shares" under the Income Tax Act (Canada). Acumen Capital Finance Partners Limited acted as the sole and exclusive agent of the Corporation in the Private Placement. The Corporation issued (i) 2,379,633 Shares eligible for the renunciation of "Canadian exploration expenses" within the meaning of the Tax Act at $0.45 per Share and (ii) 4,316,500 Shares eligible for the renunciation of "Canadian development expenses" within the meaning of the Tax Act at $0.40 per Share for aggregate gross proceeds of approximately $2.8 million.
Insiders of the Corporation participated in the Private Placement and purchased an aggregate of 992,406 Shares or 15% of the Shares issued under the Private Placement.
Facts with links:
https://web.tmxmoney.com/article.php?newsid=6513570144328424&qm_symbol=TVL
https://web.tmxmoney.com/article.php?newsid=7661326202474905&qm_symbol=TVL
Do you realize the huge difference now?