AvenEx Energy Corp AVNDF

RE: RE: RE: RE: RE: RE: RE: RE: Merger may be only

[pwalk140]

The Charger management team has extensive experience running a dividend paying entity, Provident Energy Trust. Provident shareholders realized a ~210% total return (including cash distributions of ~$1.9 billion) during Tom Buchanan’s ~9 year tenure as President and CEO of Provident (S&P/TSX returned ~90% over the same period). This team grew Provident from its origin in 1993 as Founders Energy, to a diversified energy trust with over 30,000 boe/d Canadian oil and gas production, over 20,000 boe/d of US oil and gas production (through its US subsidiary BreitBurn Energy) and the second largest integrated NGL midstream and marketing business in Canada. The ex-Provident assets, which comprise a large portion of the Pace asset base, are very well suited to a dividend model, and were acquired for their long-life, low-decline nature and are ideal for a dividend paying entity.