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Bullboard - Stock Discussion Forum Bellatrix Exploration Ltd (Canada) BXEFF

Energy
Bellatrix Exploration Ltd is a Canada-based oil and gas company, engaged in the exploration, acquisition, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan. It primarily focuses on developing its two core resource plays, the Cardium and the Notikewin/Falher intervals in Western Canada. The Notikewin/Falher in Alberta's... see more

GREY:BXEFF - Post Discussion

Bellatrix Exploration Ltd (Canada) > Break-Even is $3.24 for the Bank Debt Conversion
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Post by RichyRich$ on Feb 12, 2020 5:50pm

Break-Even is $3.24 for the Bank Debt Conversion

Ming... the reason our math is different..m is because you forgot to calculate that the banks owned 83% of the 41 Million shares. They got approximately 34M shares. $110M 34M shares = $3.24. The banks need $3.24/share to break-even. So obviously when they made that deal... they did it to make money. So they probably saw value for a profit at $5.00/share. But... let's say they're willing to take a haircut in the new CCAA situation. They might be willing to accept $2.00/share. But we have their back now. They won't want to lose too much. Quarter report is coming out soon. Maybe this Friday.
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Bellatrix Exploration Ltd (Canada)