Macquarie predicts bankruptcy for lightstream

[k1f]

Dan, what do you think of Macquarie's call for Lightstream to go under within the year, even if
oil prices go up?

<<Macquarie has a 12-month target of $0.00 on Lightstream's equity as the firm believes that CCAA (the term for corporate bankruptcy in Canada) will occur within a year for the company. The upside scenario of an asset sale is marginal at $1.25, although it does consider that a "significant premium" could be had if Lightstream manages to get bought out.>>

<<http://seekingalpha.com/article/2985546 ... areholders>>

BMO Nesbitt Burns is equally pessimistic about survival.

Definitely not what we expected.

[k1f]

The latest LTS conf call, btw, is as usual plausible and confident. They claim to have intl investors interested in acquiring part of their Bakken turf w/ LTS operating at first, and with a likelihood of acquiring the whole play. They plan to have the company in a sustainable operating idle till the storm passes. And the balance sheet as they characterize it sounds survivable, with *no* pressure from lenders at this point (!)

So Dan, the question could be, do you trust their judgment?

[jsb1949]

Dan, I expect that there are several of us still in this stock and deeply underwater
and would really appreciate your take on the latest analysis. Thank you.

[dan_s]

I will take a look at Lightstream when I have time. I had to get through today's luncheons and I have several profiles sitting here for my review.