LKE..................Chart thread only, page-487

Hi gassed
Well spotted re that financing deal, which I think is dreadful. I've not wanted to say anything about it, in the hope that management would pay the damn thing out and be rid of it. This should have been done a long time ago. We would have been much, much better off raising conventional equity capital.

I love your enthusiasm for the story - I was a huge fan almost 2 years ago and still love our fantastic real estate but I'm dismayed with this arrangement. I've given you both a thumbs up and a 'great analysis' as you've actually identified why the share price keeps getting hit - it's cheap loose stock that comes out at the wrong time and depresses the share price. Just look at the 'incentives' for the financiers in the deal - sheesh.

The laws of supply and demand have not been repealed. The çredit card guys can play the stock, at the expense of us the rest of us, with ongoing dilution on dreadful terms, especially at a time when parts of the world are in negative interest rates. This is way worse than paying 15% interest, given the VWAP discretions that you refer to! No wonder there are tears before bed-time. I know for a fact that it's putting off some potential buyers, so we have the worst of both world's - excess selling and diminished buying, despite the superb results from the field.

Sadly, Steve's acreage acquisition ingenuity is being completely diluted. :-( This is a huge management issue that needs to be fixed, quick smart. I suspect that shareholders will show their displeasure with the upcoming vote this week that gives management long term incentive shares + bonus options + salaries while this issue remains unresolved. I think it's killing us, I'm very sorry to say. And that's from someone who likes our assets, our recent results and our Chairman and MD. I'm very disappointed that it's come to this...