Post by
barneymillar on Oct 17, 2014 10:27am
looking Back
The $825 offered by Aspenleaf is looking attractive when compared to the $560 today for the debs? In addition $.43 per share is a long way from where the stock is today. The deb holders who voted NO must be rethinking their actions as well as the major shareholders. The latest press release, for those who bother to read it, indicates solid operational preformance. I doubt that the stock will recover but perhaps the debs will. Does anyone have any oipinions to offer other than slagging management who only control 3% of the public float?
Comment by
iroctsxv on Oct 17, 2014 10:51am
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Comment by
teevee on Oct 17, 2014 12:05pm
Assuming the LOC is renewed at some level above the current draw down, the ARN.DB debenture holders will be paid with stock and end up with control of the company. The savings in interest might allow one additional well/year, however, if oil prices remain soft until the hedges expire, the budgets will be much tighter. ARN's share cap will explode and the problems will remain.