Just a general consensus on everyone's feelings on where LPR is headed or what the future is for this company. Please let's have good honest opinion's with no bashing what is written by other topic contributors. If you feel it is headed for BK that is OK, or if you feel it is going to turn higher great. What has changed with the compant to make the stock go down? Kind of a survey of peoples take on the stock. Many Thanks!
Great question! While I agree with Goldberg's main complaints, I am not as pessimistic about LPR's future. In my opinion, if they can raise $150 million to pay down debt, they should be in compliance with the EBITDA requirement. Using $100 million to pay down the bank syndicate debt and $50 million to buy back the higher interest junk bonds should keep them out of bankruptcy.
It would certainly help if management provided some guidelines about their financial problems and what needs to be done to maintain the bank line of credit. I do not know why they are so quiet. There seem to have been leaks before from somewhere in the bank syndicate, so informing share holders would at least remove some of the benefit inside traders have been receiving.
MHO: All the doomsday talk will appear ridiculous in hindsight. Some funds had to sell, the rest has been retail money fleeing below $1.00 due to max pain and fear. LPR is the same company it was @ $1.30, only now with new management.
It is true that LPR's assets are the same as when it was trading @ $1.30. Unfortunately, there have been other changes in the last 2 months. First, the banks have slashed their line of credit. Unless there are some asset sales soon, LPR will be in violation of their debt covenants, which can be a big problem.
Second,when LPR was trading @ $1.30, there were more than 2 months left in the Core Asset Review. Now, after a 9 month review, there is only one week left and no announcements. When shareholders are left in the dark this long, it is likely the Core Asset Review is not going well. Without any updates, most investors are assuming the worst.
Third, in the last conference call, management said that because of interest shown by numerous buyers, delisting was very unlikely. Now, delisting looks very likely. With management overpromising and under delivering, many investors have lost confidence in their abilities.
In conclusion, while the selling is probably overdone, LPR is a highly risky investment that could double or triple or go bankrupt. I am hoping for a rebound, but am very disappointed with the way LPR has been managed in recent months.
WITHOUT EMOTION, STOCKHOLDERS ONLY KNOW WHAT HAS BEEN STATED BY COMPANY; DELISTING PROBLEMS,LOSES IN CASH FLOW, LOSS OF PERSONEL, LACK OF COMMUNICATIONS TO STOCKHOLDERS HAS BEEN TERRIBLE, INEXPERIENCE ODF REPLACEMENT EXECUTIVES, LAW SUIT VERSUS GOVT WILL DRAIN ASSSETS FOR MANY MONTHS. Conclusion the pps is where it belongs and in the banks at end of june call loans as is possible they are gone. Recommendation --stock is too risky and salvage what you can!
Here's what I think they should do. Delist from NYSE saved money so do it, list on TSE or VTE. Sell of Laird Basin property it requires too much money to develop which we don't have and keep a royalty override of 4%, JV Evi on undrilled acreage 50/50 which drilling cost carried. then later as we get the ship right stay focused on high margin liquids, leave deep basin land banked as well as utica in quebec.
I reverse split doesn't make sense. THey could very well sell or j/v deep basin, sell laird and just focus on oil at evi and new property and land bank utica.
Over the next few years earn our way to a share price reflective of the asset value remaining in the $5 range