Arcan Resources Ltd ARNBF

More than correction.....meltdown

[goldnut8]

The action on this company is starting to look  like

 

Galleon,    $20  to   $2

 

no news ,   there must be operational issues and that story is getting

out via locals.

[themangokid]

pengrowth, one of the potential suitors of arcan, took out nae.  I think thats the reason for the drop in price.  one less suitor for arcan (although pengrowth did not use any of their bankline for their buy so they still could, I guess, come after arcan).

[goldnut8]

If your reasoning is correct then you have to beleive that the $5 to  $5.50 is the baked in take-over price.  with less suitors price drops. I still sense that there are other issues,   relating to quality of assets and recoverability of oil.

[goldnut8]

Someone with large volume is selling,   What is their motivation for selling,  is there info out there about the assets  that should be reported?

[Corrigan1]

although pengrowth did not use any of their bankline for their buy so they still could, I guess, come after arcan I'm afraid that I'm going to have to disagree. Pengrowth stated in the press release that they would be making offers for NAL's debentures. Any and all payments to debenture holders will reduce their bankies with a gross potential of ($80M + $115M x 1.01) + $150M = 

[nlr2]

Hmmmm interesting thanks Corrigan. As a PGF shareholder what do you think of the NAL deal? Pretty good deal for you guys I'd say. I would think for PGF the main interest is in acquiring liquids but more importantly cashflow for Lindberg. So for that I would have to say SCS would work better as its cheaper then ARN and they would not have to invest as much money in development or be the

[Corrigan1]

We are in Florida right and this morning the only comments I had seen before we headed off for a day of Flea Market shopping were from TD Waterhouse. Their comment were that the deal was slightly positive for PGF. I had thought that they would be more enthusiastic as, in my mind, it would allow PGF to divert drilling money to higher return oil plays and thus jack up the net back and the cash flow