Arcan Resources Ltd ARNBF

clean house

[Beermug]

As an Arcan share holder for some time, I have come to a conclusion that my money is lost and I can’t be leave the management would have the gull to give them self’s performance options. What is needed to bring this ship back from the depths of the sea is to clean house of the Directors and Management. I guess they are smarter than I am as I am losing my money and these SOB’S keep paying them self’s very healthy salaries and options.

[nlr2]

Truth. This has been a wreck and a new start of any sort would be a positive. Petrobakken in their presentation at Peters and Co said they were starting to drill at Deer Mountian. Interesting to see what they do going forwards as they don't really have enough running room to make the area their third core area. I said on the SCS board but the same applies here that the continued cheap money

[Beermug]

This is good news Petrobakken has started drilling at deer mountain, i hope they do well and take out this dog and put these clowns in a janitoral roll in which they are more suited for with the amount of bull s___ they have been feeding the investors. Just a little bitter. Go PBN Go!

[Feruk]

If you don't issue options, don't expect to keep any employees that COULD potentially get this stock out of the mess it's in. If you'll notice from the press release, the board of directors did not get options, just the employees/management. Either way, I think we're screwed. We're either looking at a miracle recovery, bancrupcy, or a REALLY low offer.

[c185pilot2000]

Petrobakken not a good candidate to by out ARN, but it could farm in to ARN's acreage and save ARN's bacon that way

[nlr2]

If PBN wanted to swing it I think they could. Arcan has $150 million in debt, possibly minus 19 million from divestments but they probably spent it gold plating their desks or something. Then about 170 million in debentures and if they offered $2.50 thats about 260 million there. Petrobakken has 1.1 billion available on there credit line so they could pay for the equity portion of the deal by

[mathwhiz]

I am all for issuing options in order to retain employees, however...  There are approximately 25-30 employees including FT Field staff. There are 6 VP's plus Terry and Doug on the top management level. You can bet that while Doug hasn't taken any options for himself, he has definitely found other ways to reward himself in lieu. Terry is a Board member so hasn't been