Long Run Explor Ltd Ord WFREF

I'm back in LRE

[VentureCapital3]

I'm not surprise by the banc call. I think it is much better today for LRE than two months ago. I'm expecting another CAPEX cut. For me it will be a good news since there is no return investing in drilling at the current price. They are better to reduce their debt. Base on March 31 FS, I think they have to find $176M. Since than, LRE has probably generate around $20M in net CF + $10M by selling some assets. So, we are talking of maybe something like $146M. If they cut the Q3 and Q4 CAPEX, they will reach this objective by the end of 2015. When oil will be higher, they can renegociate the deal and resume drilling... Anyway, they are ok for at least the next 12 months.

[rivermoney]

Good for You Venture. The managment will turn this around just fine. They realize what needs to be done. They have 12 months to do it and with oil rising slowly they will reach their target. It's no different then selling personal assets or downsizing  a certain make of vehicle and sh!T like that to make your mortgage payments and continue to live life as it is. Everyone