RE:Richie guy, who is the moron now? You called me that, rightI started posting about how this had to no chance to succeed back in December when I started posting on stockhouse again.
You all were overestimating what NG property is currently worth in Alberta and I feel bad for shareholders here. In simple terms, property that produces very little free cashflow is worth d*ck.
This should be a wakeup call.
To even propose a deal like this show their is zero ability to issue share in financing or sell property for any kind of decent valuations.
DON"T INVEST IN CEQUENCE...you guys should be investing in zero junior NG stocks until more companies experience the BXE fate. We are in 2019...the past doesnt apply.
Look at the AECO future curve.....NG is almost worthless from June on.
You retail shareholders are hardcore...BXE should have fallen to 23 cents today.
Think of it this way....
what they proposed today is similar to issuing 480M shares at 23 cents. Did quick math...cause I don't own this I am not wrecking my brain so do the math as well if anyone doesn't believe me. Issuing 480M shares at 23 shares has same dilution effect to current shareholders and same debt reduction amount of 110.4M:
| 16.5 | 80,900,000 | | 0.54 | 43,686,000 |
| 110,400,000 | 480,000,000 | 0.23 | | 439,000,000 |
| | | | | 482,686,000 |
| | 0.16854167 | Ownership left | | |
I am very financially educated and that deal gives me a f*cking headache to try understand......