Long Run Explor Ltd Ord WFREF

Q2 report

[canne]

the quarterly reports seem to show continued deterioration in the performance of the company. A $50 million dollar loss for the quarter and $70 million for the year are pretty grim statistics when you have $709 million in debt and your assets are decreasing by the month. The say they are going to drill 12 wells at Redwater and are planning 3 wells at Edson - trying to keep production from slipping too much I guess. Its interesting that it is a surplus of oil and gas that is causing all the problems for the industry yet everyone is trying to produce more, - if one is losing money, I would think losing less is better than losing more...

[tsoprano1]

They are drilling because they are forward thinking. Obviously, oil is going up eventually. Demand is already outstripping supply, the media just doesn't know how to read the signs. The Iran deal is way overblown, but you wouldn't know it from reading the papers. By the time the media figures out that demand has taken over it will be too late. Once Long Run announces a sale of assets the

[Iamwcw]

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[BlueCollar51]

The BIG issue with Long Run is the DEBT!   They stated on the Q2 report that the “Net Debt” had been reduced by $30.4m.   That is true but misleading. The Bank Debt actually went up $14.2m to $625,934m. The “improvement” was in the “Accounts Payable/Receivable”.   Basically to date they have done very little if anything to effectively address their DEBT issue.   Their “Strategy

[Iamwcw]

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