Bellatrix Exploration Ltd (Canada) BXEFF

RE:RE:Clown show at the PwC Canada Current Insolvency Website

[RichyRich$]

Mike... Thanks for that info. I think you have a point. They could have easily did a private placement to pay that $3 Million. But do you know who made the decision? Was it management? Because wouldn't their interest be to keep the company unsold so they keep their jobs? Because if bought out, often the new owners clean the house with management and executives. I wonder if it's the bank that bought 85% of the common shares last March, if they were on the board and allowed it all to happen. If so, their best interest is to ensure a good payout to the common shareholders if a buyout, because they forgave $110 Million of debt to gain majority of the common shares. If so, they will ensure a buyout pays off the total common shares well. That's what I was banking on when I bought it back lower in June. That the banks have an interest in the common shares as well. So that could be good news for us in a buyout. If what your saying is true that it was only missed by $3 Million, it sounds like a proactive manipulation for good reasons of a good buyout offer. If you look at book value, its actually calculated by a third party trusted assessor. When you look at the book value of $16/share. Book Value takes into account Total Assets minus Total Liabilities. So even if the book value is depreciated and a buyer hoses them lower under distress... even if 10% of book value... a buyer would gladly buy at $1.60/share and pay off a good chunk of debt if a larger player is buying. Even if not $1.60/share... I don't think we would lose money if a buyout offer. Let's hope that's the case and let's hope there are multiple offers! Let me know if you find anything else. At this point we're all in the same boat. Trading is halted and let's all hope for the best.