Arcan Resources Ltd ARNBF

Re; Takeover

[onad77]

Looks like Petrobakken and Crescent Point will be fighting it out for control/ownership of Arcan. Hopefully this will result in a significantly higher takeout price...i.e. $4.

Woohoo, thank you Petrobakken.

[woundedknee]

Andrew McCreath commented this morning on BNN that you should be careful with ARN. He says they have a "messed up" balance sheet and the shares could be worth nothing. I am a shareholder of PBN and was wondering why PBN shares are going south so I have no agenda with ARN, but his comments were interesting.

[cookster9]

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[cookster9]

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[rockman998]

Cookster9 How do you know the water flood is working well. The way I see it PBN bought the shares as part of the deal to get the farm in. They probably would have been just as happy to do the farm in without the shares. ARN has $350M total debt and 4000 bpd. At $100,000 per per flowing barrel it's total worth is just under $400M. less the debt. Leaves $50M or 50 cents per share. If water flood

[bakken13]

"The way I see it PBN bought the shares as part of the deal to get the farm in. They probably would have been just as happy to do the farm in without the shares." ----------------------------- Now there is an uninformed, and simply stupid, statement.

[Qbar82dv]

Got to take in account for the dilled wells that are being fracked. Also the wells that have been taken off production and converted to water injection. 50 or 75 bbls of oil a day will be profitable for long life wells. Long term this company is OK IMO.

[cookster9]

This post has been removed in accordance with Community Policy

[rockman998]

I have read the press release. It says for investment purposes. How does PBN get around the 20% CPG owns for a takeover? I doubt PBN wants to take on the $350M debt unless they can better utilize the ARN infrastructure. Saying the statement is stupid doen't answer the question. Usually when people start the name calling its because they don't have an informative answer. If my figures on

[bakken13]

" How does PBN get around the 20% CPG owns for a takeover?" ---------------------------------------------------------- They don't need 100% of the votes to buy out ARN.   "If my figures on the net worth of ARN are wrong then why." ------------------------------------------------------------------------------- You use the $/boed as a way to value ARN, but

[rockman998]

They need 90% for a simple take over. I don't have a specific agenda. My lookout for the company probably reflects the movement in the share price for the last 6 months and the enormous debt they have in relation to their cash flow. No one wants to touch their debt.