Bellatrix Exploration Ltd (Canada) BXEFF

converting debt to shares was at $2 or so

[mingzhu]

it means that debt-holders think  $2 is fair value. business has been going normally after converting and even getting better because gas price is going up. i think $2 will be final price for shareholders.

[RichyRich$]

Ming... my math showed that the converting debt to shares last year was at a $3.23/share break-even. That the banks would need $3.23 to break-even. But if they're willing to take a haircut... then your $2.00/share might come true. I hope so. I'll take $2.00/share... run to the bank... and never look back! I also hope you're right that the banks realize it's not to their advantage

[ariesleaf]

SHOW ME THE MONEY.

[rad10]

exactly!  So many nonsensical hyperbolic posts............. These assets will get picked up for a few cents on the dollar.

[mingzhu]

you are probably right. banks converted $110m into shares/total 40m shares = $2.75/share. even if they own 100% shares. 110m/3.23=34m/40m.=85%. The banks own 85% of BXE shares.