Long Run Explor Ltd Ord WFREF

the guy looked tired

[soundandfury]

he looked terrible................his shirt was not open and he had no suit and tie.................he looked like a poor homeless man or someone who just got released from jail...............i bet if the camera was pointed at his feet we would have seen that he was not wearing any socks either....................rotflmao

[Reflect]

I have to agree: To quote Donald Trump - "Loser!" I sure hope its more than take out in Hong Kong. Maybe there is more in the making & an all out takeover is in the cards because this deal is a done deal. I cannot see the Hong Kong people throwing 25 mil away just for the fun of it. With more partners & money LRE looks very promising. At 1.30/share it'll cost say approx

[wilwal]

If this deal closes, MIE will control LRE.   While it is 43% or so....that's control. A widely traded stock will be controlled by 20-30% ownership.  That is why the Federal govt sets its foreign review at 20% because of control issues. The good news is that the new controllers will make sure that LRE stays strong and survives this downturn in oil and NG.

[Reflect]

I would have preferred a complete takeover & there's a chance this option in still in the picture - hence, the visit to Hong Kong. Though the debt would come along with the purchase but if capital can be raised to pay this debt, then a new company can direct funds necessary to cover & growth & consider a sp for the new company &  have the ability to go to

[qwqw]

A complete takeover would've been nice.Who knows one might have been in the works and the suitor got cold feetitis.How many other companies had deals lined up only to have them fall thru when oil tanked.We will never know for sure.The disappointing part is how few takeovers have occurred so far.Legacy was extremely lucky CPG came along. All things considered LRE was fortunate this offer wasn

[wilwal]

With only $1/2 billion in market cap, a full takeover by MIE would be problematic, if not impossible. They just aren't a big operator.   You will note that Maple MIE's new holdings will be in the low 40% range. Had they breached 50%, they would have triggered the debs for payout and $70 million would come due on a debt that is scheduled for payout January 2019.  At this point in

[Reflect]

I agree qwqw but in my experience whenever I see a company do share offering to pay down debt it is not a good sign. The only monies available are at the expense of the shareholders through dilution. There is no borrowing available. It's more like just buying time. LRE still has 500 million debt with the same assets but we shareholders are now so diluted relative to the debt & assets

[qwqw]

The days of juicy offers are over.Now it's do or die.  The strong will get stronger and the weak will be eaten.  Unfortunately LRE is on the menu at the moment. It won't be long when desperate companies will be a dime  a dozen and offers will be rock bottom.When there's smoke,the first ones to leave are fine,the rest risk getting trampled.    The

[Reflect]

I guess I'd like to hear Wilwal's response. From his latesr blogs I gather he is a serious  investor.

[wilwal]

Yes I'm serious with an agenda to make money.  I would be happy to respond.  What issue in particular?