Bellatrix Exploration Ltd (Canada) BXEFF

From SEDAR

[pennydredful]

Largest    shareholder    after      the    re-org     holding     about     25%   of  the   shares    was    US   Fund    Manager      Loomis   Sayles     .   THEY   ARE  NOT   A  BANK.   After   what   Brent   made    at     BXE     he  is  set    for  life   -----never  needs   to  take   any  other  position.

[RichyRich$]

What you're reading is wrong. The banks owned 83.5% of common shares as of tha May 2019 recapitalization. There was not that much daily trading volume after that as share prices fell. So they still own majority of the shares. Why to you think majority of the lenders are on the shareholders board of directors. That fund most likely got screwed in the recap in May 2019. They probably own 25% of

[pennydredful]

From   SEDAR     .  THere   are   40,862,867   shares   out   ,  As   I   mentioned  Loomis Sayles  Boston   based    fund    manager   own  10,174,931   or  24.9%    while   

[mjhayman]

Penny, your a smart guy. How much sway does National Bank have as of now? Can they screw the  second and third liens if it was in fact around 250 million? Do we have any hope of delaying the sale as shareholders? A letter of intent has not been signed by us, but rather initiated from the would be buyers for our vote I'm guessing? Asking because I don't have a clue and am not going

[pennydredful]

Thanks  .  I   think   National   will   get   paid    100%   as  they   are   in  first  position.  There   are   then    general   creditors   like   suppliers   owed   money  . 

[mjhayman]

Would be hard to imagine this company turning down a low interest loan if it was presented to pay off some of their higher interest debt to give it a better chance going forward, I'm thinking National would be the most interested in a sale. All speculation but I think your birdie is correct, we are dealing with a low ball, second lien haircut and the rest of us hung out to dry. What's

[pennydredful]

Shareholders   won,t  see   a  dime   IMO  ,   The positive    things    you  mention    like   govt. guaranteed  loan  ,  orphan    well   program    the  buyer   will   want   to  retain

[mjhayman]

 Call me crazy but I would rather be 100 million short then 50. Thank for the info Penny!