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Stock Market & Financial Investment News

News Breaks
August 19, 2014
09:14 EDTBXEOrange Capital to engage Bellatrix with recommendations on strategic alternative
Orange Capital intends to engage Bellatrix Exploration in discussions regarding opportunities to maximize shareholder value. Orange Capital intends to discuss Bellatrix hiring an independent financial advisor tasked to provide the board with recommendations on strategic alternatives, capital allocation and improved investor communications; the size and composition of the board; steps to raise the Bellatrix's valuation to be in line with its intrinsic value, which current valuation is well below the Issuer's intermediate sized company peers in the Canadian exploration and production sector; refraining from future dilutive equity issuances and outlining a clear use of proceeds for all newly raised capital; and exploring alternatives to highlight the value of the Issuer's infrastructure assets, including but not limited to improving disclosure on the cost and fair market value of the Issuer's midstream infrastructure and/or exploring a possible joint venture, initial public offering or sale of the Issuer's midstream assets. Orange Capital intends to discuss such matters identified above not only with Bellatrix management and the board, but also with other shareholders of the Issuer and third parties and may take other steps to bring about changes to increase shareholder value.
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September 11, 2014
08:08 EDTBXEBellatrix Exploration's September production reduced by two offline gas plants
Bellatrix Exploration has been put on notice that two third party operated gas plants in the Ferrier / Willesden Green area are going offline during the third week of September. These temporary plant outages are expected to result in an aggregate net production restriction of 30K Boe which is estimated to have an average impact on Bellatrix's net production of 1,000 Boe/d for the month of September. After giving effect to the aforementioned and continued tightness in available processing capacity, Bellatrix's daily production is anticipated to average approximately +/- 40,500 Boe/d in Q3. This would represent an 11% increase over Q2 production volumes of 36,342 Boe/d and an 85% increase over 3Q13 volumes of 21,852 Boe/d. Current daily production is estimated at +/- 42K Boe/d. The company reaffirms its unchanged exit rate guidance of approximately +/- 48K Boe/d.

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