GREY:AVNDF - Post by User
Comment by
Capharnaumon Jan 28, 2013 12:37am
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Post# 20897500
RE: Elbow River Funds, Severance,......etc
RE: Elbow River Funds, Severance,......etc The truth about the deal is that both Charger and Pace's properties are better than Avenex property by itself. Hence why the other companies come in with a debt and Avenex doesn't.
Unfortunately the real winner is the party that grabbed Elbow River. I believe that just Elbow River was worth around $2.50 for Avenex shareholders.
Anyway, looking forward, I believe that it's better to vote for the plan than to vote against. Charger's management isn't as bad as the rep they get here, they just got caught with their pants down into a weak natural gas market. As long as there isn't a 2nd leg down for both oil and natural gas, then the new company should be able to keep its 18,000 boe, pay a 3 cents per month dividend as well as turn it around.