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Lone Pine Resources Inc. Message Board

  • jfootdoc jfootdoc Dec 11, 2012 2:46 PM Flag

    Improving Books


    I feel that a settlement with the Canadian Gvt over the NAFTA issue should fetch LPR $200-$250mil in damages in the near future. The sale of the Wild River assets for $82mil is closing this week. That alone puts LPR in near debt free catagory. Should be a good year for LPR.....

    Sentiment: Strong Buy

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      • 1 Reply to susanmorgan86
      • American company?
        To make a complaint against Canada under NAFTA, a company must have a corporate structure in the United States or Mexico. For its part, Lone Pine is headquartered in Calgary and conducts substantially all of its activities, but is officially registered in Delaware. The company is also listed on the New York Stock Exchange, and Toronto. The Receptionist ensures that the company “has no office in the United States.” “We have a mailing address there for legal reasons, but we do not take calls,” says Shane Abel, Vice President, Investor Relations at Lone Pine. For Alfred de Mestral, a specialist in international law at McGill University and former referee NAFTA, Lone Pine must prove that it has a real “corporate structure” south of the border. “It should be expected that the Canadian government denies that it is a true American company.” International lawyer, Bernard Colas also believes Canada could attempt to argue that the company has grown by an American company simply to pursue Ottawa. “It does not mean that Canada’s objection will succeed, he said. The choice of arbitrators will be strategic.” But the vice president of investor relations Lone Pine has no concerns. “It is very clear that we are an American company, said Shane Abel. Our shareholders are the United States, the bulk of transactions as are the United States, and we have built.” [Emphasis added]

        Sentiment: Strong Sell

    • Definitely!