AvenEx Energy Corp AVNDF

Either way is a difficult decision.

[JReynolds]

Hmm, I wanted to remain quiet on this and not to influence the decision on the voting process due soon, but I changed my mind. Looking at current state of things, with ER gone, if the merger does not take place, there is nothing left for us at Avenex and the dividend may not be sustainable after this.

If the merger does take place, then Avenex will have to share the debt burden of Charger, and will be forced to focus on her core activity. Will the so-called strength-in-numbers concept be applied here successfully, though one of the components in the number here is fairly weak ?

[Kherson]

Looks like Avenex management has left us between a rock and a hard place. I think that the only choice that we shareholders have now is to vote against the merger. Kherson

[rad10]

I agree - the track record of the management team that we are inheriting is not up to standard.

[Kherson]

 I also assume that all three management teams will be getting a severance package based on their "Change of Control" clauses in their employment contracts with their individual companies. Looks like they win at our expense... Kherson

[pone]

JReynolds, I would rather vote against the merger and see AVF implode.   The idea that Avenex management 1) sells a strategic asset without voter approval under market value, 2) gives away the $80M cash proceeds to a company with nearly $80M of negative working capital (effectively valuing the AVF resources as not worth anything), and 3) collects their bonuses for a change of control event is

[rad10]

Agreed - but we have to make the best of this.  The fact is the 80M proceeds from the sale of Elbow River belongs to AVF shareholders.  The vote is by no means a done deal (Sorry Bakken ).  I would rather Avenex remain a stand alone entity - than be shackled with charger and the proposed management team.

[JReynolds]

I'm not influencing any voting decision here, it's best to vote with one's brains rather than his heart. We're sick of the ER issue, but it's done deal. Judging from records, CHX's management has worse records than AVF's, though AVF sold ER at a below-market price. The question now becomes can AVF stand and sustain the dividend by itself ? Is the management able to do

[Kherson]

 JReynolds, that is the question that we are all asking? Kherson

[Art365]

will CHX drive evrything to the ground ?   There is always doubt and uncertainty, but you are certainly too pessimistic! The new company will have a lot of cash flow and won't be driven to the ground. Charger had a huge inventory and first class management but no cash.    

[rad10]

we can only go with the track record - and it does not look good.  I can see synergy between Pace and Avenex - I don't see where CHX or their team brings value.  It would appear the Charger management team is very polarising - some say they are great others think the opposite.  No doubt there are fluffers from chx on this board, so I am inclined to go with the not so great

[deisman]

And how much of our cash that AVF is getting for ER is going to be going as "parting gifts/rewards" to the mgmt/boards that won't be staying on with spyglass?   A Ben Dover & Phil McCavity merger........ ouch!

[Joe454]

This post has been removed in accordance with Community Policy

[eusdond]

I agree with you 100%... All one has to do is look at CHX history and see what that LOSER managment team has done to it's shareholders... History is FACT___ How could anyone think that it will be any different after the merger... That management team is only looking out for THEMSELVES___