WestFire Energy Ltd T.WFE

Vote of confidence in WestFire...............

[bankerboy28]

Major lending banks increased the borrowing base by $50 million to $250 million based on recent operational success with WFE..news release today...looking forward to hearing the presentation at the company meeting May 29th...BB28

[menotknow]

Great news in this market.  While banks are calling loans, or even clawing back, WestFire has a 50 million dollar increase?  Goes to show how these guys stand up over the rest.  These guyes don't HAVE to sell - again, that's what sets them apart from other 'seeking alternative processes'.

[poubelle1]

I do not consider it such great news. The company keeps saying it can grow through cash flow, yet we continue ti rack up debt. We need to lower debt, even if it means less growth. The oil in the ground is not going anywhere.

[bankerboy28]

Anytime banks allow a company to increase its credit facility by 25% that is a show of confidence in the company's ability to execute and manage that facility....banks are very tight with any lending...the company also anticipates that debt will be reduced to only 125 million by year end.........BB28

[poubelle1]

I agree with your first statement.   But I just don't believe that they will reduce debt as they say. I bet they will increase it.

[nonvoyan]

Debt is cheap though, and isn't a bad way to finance further growth.