Bellatrix Exploration Ltd (Canada) BXEFF

Some news

[Straite]

https://www.pwc.com/ca/en/car/bellatrix/assets/bellatrix-018_111519.pdf https://www.pwc.com/ca/en/car/bellatrix/assets/bellatrix-020_111519.pdf

[mjhayman]

Just another expense of course, the only good news there from what I can gather is they will have to keep things going, and that is the best possible outcome for us! Wouldn't it be great if old National Bank ponied up another 100 million partnership deal haha. Doubt it prob will just lower their threshold and sell it for pennies.

[Kherson]

The real news is that Ulmer is now doing the talking for BXE and more importantly for creditors, the head count is still above 170!  If BXE really want to reduce their costs under the requirements of the CCAA order, they need to get rid of some of employees! The KERP is a joke to the whole CCAA process! Kherson

[mjhayman]

Reaching phase 2 after multiple offers are being accepted with a postponement date of Jan 2 2020, is also positive. I still believe if they don't keep it going as Bellatrix we all lose unfortunately. I also believe they have to cut costs in a huge way. They have been paid to lose money for 10 years. CEOs pay should be incentive based

[mjhayman]

I think that's great news as well I don't know about the bonds (does anyone have a number owed) and or if they can be reinstated, I'm just thinking someone might want to  buy National Banks interest out and take the same gamble they did 8 months ago and keep it going provided they could reinstate the rest of their ongoing debt. Since the National Bank realized loss being so high