Bellatrix Exploration Ltd (Canada) BXEFF

RE:converting debt to shares was at $2 or so

[RichyRich$]

Ming... my math showed that the converting debt to shares last year was at a $3.23/share break-even. That the banks would need $3.23 to break-even. But if they're willing to take a haircut... then your $2.00/share might come true. I hope so. I'll take $2.00/share... run to the bank... and never look back! I also hope you're right that the banks realize it's not to their advantage to relist and just take a buyout of the common shares. If they relist... then they risk negative sentiment never realizing them a gain on the common shares. I just hope that the banks are not ok to lose their $110 Million in common shares. We are in a unique situation to our advantage. In most CCAA and Chapter 11 the banks and the company would not hesitate to throw the share holders under the bus. Just like they did to shareholders in reconsolidation last year. But this time the banks are on our side. AECO is still holding up well around $2.00. Not bad at all. And whover the buyer is... is probably thinking longterm 4 years from now when the LNG Canada Pipeline is built... AECO will be high in the longterm future. Imagine if the buyer is Berkshire Hathaway. I saw a few energy companies in Alberta are owned by Berkshire Energy division. They could dish out the full buyout amount with cash and no debt interest to pay! Crossing my fingers for a Berkshire Warren Buffett buyout! I think we will know soon. Usually its announce and then takes 2 months to close the transaction. I'm getting nervous to check the websites lately. Boom or Bust!