Bellatrix Exploration Ltd (Canada) BXEFF

Link including debt priority info

[mjhayman]

https://www.pwc.com/ca/en/car/bellatrix/assets/bellatrix-015_100919.pdf

[RichyRich$]

No. $110 Million is not mentioned anywhere in there. When the banks did the recapitalization in June, they lowered the debt due in exchange for common shares. Which works out to a strike price of apx. $3.20/share for to break even. So if the common shares go to zero, the banks lose the $110 Million of the value they reduced debt to own majority of the common shares. Copy and paste the whole

[mjhayman]

Sorry I messed up the strategic process possibly thinking it had to do with the financing 4 months ago, it's very confusing to me. Hard to believe they would lose that much money that fast, their heads must be spinning!! Is that a credit revolver of sorts or is that just one banks decision to give all that money? Sorry I will read it over when I'm in the mood I'm downtown walking the

[RichyRich$]

It looked like a few tier of lenders together decided to swap $110M debt for majority shares closing June. That's pretty well my only glim of light here... that they fight to get the common shares paid off well since they own most of it! I'm also hoping it's just a partial sale of the Cardium land JV. They paid 150M for it a few years ago. Maybe they take $100M for that land and keep

[HARJAY]

Sorry , i'm a little confused. I thought that MJ said i a previous post tht the CEO told him  its done co. is sold , correct me if i'm wrong. If that is the case why are you talking  diffrent scenarios that invole partial sales, plant sales extending debt timelines etc. which would keep the co. alive and going hoping for improved mkt. conditions , which personally i would rather

[RichyRich$]

According to the press release on October 2... read below (copy n paste)... but it looks like they're waiting up to Nov. 13 to take bids, but all options still available. I'm not sure what MJ heard or perceived as it looks like options and bids won't be assessed until Nov. 13. Read this from the Oct. 2 press release "The Strategic Process will explore a broad range of strategic

[HARJAY]

Richy So what your saying is there is hope for our shares to be worth more thn 0.  in the future. Correct ?? Appreciate the response. HARJAY

[mjhayman]

Why so willingly give up, do we not deserve representation of any sort? Yes the sales process has begun as per the CEO but they do have a threshold in which the banks are willing to take a loss on this but not too much of a loss. I'm not sure how this would play out if nobody offered that amount but as another poster mentioned there is no definite deadline, I'm sure all the players know

[mjhayman]

Brent Eshelman was so negative he was shocked they put up the 15 million! That's how much of a loser he is!!! He was also pissed that the AECO price is finally coming back but it's too late....

[mjhayman]

The thing that shocked me was how matter of fact they both were with regard to it's gone.... Brent said I will tell you what you need to hear the stock money is gone,  the debtors are going to take a haircut, and Abel was like 1st tier, but second and third tier as far as I can see there is no chance of recouping monies. So that's a question you hardly wanna ask those guys! Eshelman

[mjhayman]

I have purchased a couple dozen distressed homes in Canada and am a dual citizen I have a rental business in PEI and Halifax. I bought a few flips here recently but am getting out of real estate since the banks here in Canada are finally catching on and pricing them much higher, in the states they fix the homes up before they put them on the market they have been doing it for years. I think this