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Thoughts On Orange Capital and Seth Klarman Target

Thoughts On Orange Capital and Seth Klarman Target

Orange Capital has been buying all the way down with the fall in Bellatrix Exploration. The fall has been long and hard, with Orange's average cost being in excess of $5 a share.

H/T @Wilson. Debt covenants recently got revised and going forward, all CAPEX spending will be within cash flow. We have had meaningful contact with the management, Orange Capital, and Seth Klarman's Baupost with regards to this subject going forward.

The blueprint for BXE going forward will follow something similar to that of Advantage. BXE will sell off noncore assets and possibly the Cardium to become a pure play. Once done so, it will primarily focus on drilling just in the Spirit...


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