AvenEx Energy Corp AVNDF

special meeting

[mo1975]

IAW the rsa 2000 chapter c-21 section 150  

 

all we need to take action on this management is to call a special meeting with resolution to elect directors that would be motivated to work on behalf of the shareholder. 10% needed less than 1000 shareholders with 5,000 or more share....let,s face it the board  of director are obviously committed in leaving this company by forcing the merger, taking their settlements and moving on....they could not care less of what becomes of spyglass... the chx managent team will run spyglass and in two years they will do the same and get out with their millions......let,s offer the departing management settlement in stock option of spyglass at 3.00 in lieu of their millions dollars cash  and see how many would be in favour of that...

[Kherson]

 Interesting take on the situation mo1975. There is no doubt now though that the present management has destroyed most of the value of the company for us shareholders and the BOD has sat back and done nothing. As I have posted before, the BOD needs to step up to the plate and make changes with the management team... Kherson

[tipit55]

Let do it. We must have 1000 shareholder in Alberta & lets hold the meeting in Edmonton which is central.

[Joe454]

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[Kingscourt]

Joe, I am fairly certain you are giving these guys too much credit. I agree with Mo. If the merger is truly the best solution, they shouldn't have any qualms with taking their packages in options. Leave the cash in the company so it can be used towards a brighter future. 

[indy94]

Finding directors that will work for their shareholders is near impossible especially for these 3 two bit companies. The ones we have now are scraping the bottom of the barrell and are trying to run with as much of our money as possible. With zero concern for us. Any bonuses or options should only be given to good  performing directors. None of the ones we now have Qualify. If there is one

[Joe454]

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[pennydredful]

Its the management and  directors   that  are  wasting  the  time  and  more  money   by  continually  delaying  the  meetings  .

[Joe454]

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[Kingscourt]

Joe, are you not an AvenEx shareholder? If you are there is not a month of wasted dividend as we continue to receive $0.035/share, which is a half cent better than I would receive with spyglass. It works out to an extra $22.00 a month for me. It's not going to make up for the $12,500 I'm already down, but it's better than another kick in the pants. If you are not currently getting

[linus4]

Joe , they called for a vote...It was voted down by shareholders & the management caused the delays because "the vote" did not agree with management's greedy agenda...This was a bad idea from the start ..Shareholders have spoken , so why is "management causing" all the delays & wasting cash to try for a 3rd time to push something through that was voted down...Let

[bigbank91]

Kings and Linus, the stock is priced at 2.22 right now based on a failed deal and standalone. we sold elbow river and have cash and credit. we have what pce and chx need to grow. the market wont price in severance payments. or wasting money on donuts and meetings. for avf right now we need production and have cash credit to trade. we gave pce a premium 30% they need capital to grow. chx is priced

[rad10]

LOL - are you for real big bank?  The oil patch is at a discount - AVF has cash and money talks.  Why merge with charger priced at full market value?  The cost of the deal is more than the market cap of charger...................................  LOL

[bigbank91]

i totally agree if you have read my previous posts. BUT this is the deal and do you really want to vote it down waste 6 months to negotiate say a .50 cents on charger. either way i agree, avf has cash , credit like i said . companys want to merge with us. avf probably will get the most calls for other deals. then charger then pace. as pce is big fewer deals are out there for it.

[Joe454]

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[Kingscourt]

Joe, I won't disagree with your view on management, and with full disclosre, I will admit that I am no math or business genius, but I will reiterate, if chx cannot currently afford to pay a dividend, and pce cannot currently afford to pay a dividend, and avf is likely to lose its dividend, it is more than likely spy will not be able to afford a dividend. In six months time when this comes to

[pwalk140]

Any merger that AVF is involved with will have a portion of that $25M. Ask the question what are the contracts for AVF management. A standard will be approx 8-12M for the payout to management.. Anyone that thinks they will get to an AGM and vote them out is out to lunch. Management will step down, just like Woods, long before that happens and they will still get their packages. 

[freedom-1970]

So what's the value of Avf?? Our oil assets? Maybe we should sell the whole company and close the doors!! After the sale of ER our heart of the company was gone.. To me we have a no win situation now. The managers have made boat load of money for themselves...yes or no we loose...>

[bigbank91]

all pce and chx profit are going into capx programs that the market sees from a mile away and as a result pce chx have great assets and production but are stuck in low growth without having capx to grow. as a merge. the capx program will be focused on oil. chargers oil to start. 25 million is peanuts to spyglass, 1 time charge that the market wont even price in as now as it will price in spyglass

[Kingscourt]

Pwalk, any merger avf is involved with will be voted on by avf shareholders. Standing united, the shareholders would decide the terms of management contracts. If we all just sat idle,  there would still be slaves and women would still not be allowed to vote. I don't have any sure fire solutions for our problems, but for me, and many others, the terms are less then acceptable. We can

[Kingscourt]

Bigbank, if pace and charger assets are so outstanding, why have they not been taken out? Mr. Big bucks billionaire Gallacher could buy all three companies by himself if he saw it to be a profitable venture. It would appear he finds the NHL to be much more profitable. 

[bigbank91]

good point kingscourt.  avf told us they were looking to merge or sell last year and they all decided this was the best deal. they are all priced in correctly and are willing to deal and will bring a big sigh of relief for all 3 compaines. novacorp is holding this up due to the fact they were looking for a bigger bang then $3.40 and now brainwashing the little guy saying its not a good deal

[deisman]

MERGER PUMPERS?    Buynsell2013........... Member since Feb22,2013........ All posts on AVF or PCE boards Bigbank91................. Member since Feb26,2013....... All posts on AVF board Probably has close ties to CHX mgmt/BOD         imho At least joe54 has an honest opinion.

[eusdond]

Big bank and buyandsell are only the most recent additions to the posters with questionable relationships with AVX management and the BOD, of whom most regular posters on this board are already aware of___ Their postings indicate just how desperate they are to ram this merger down the throats of the shareholders...

[Buynsell2013]

Thanks for your research deism an  i am SH In both .... And not shoving anything through anybody's throat ... ;-) and I am still saying YES to the merger to save everybody's throats ...... Cheers and good luck  some people just don't get it or don't want to see straight n clear picture and only get personal ... To show theirdesperation.......  good luck

[bigbank91]

if you do beleive that mgmt is out to get you. then its a good yes vote again. take your gain and pick a new corp. they can do what they want.   voting on gains now   vs voting on hope of better deals. one point on the time is money for people wanting to recoup losses. a $3.40 + .04 divi for pce is what is on the table.  taking that and going to crescent point or staying with

[pwalk140]

I can appreciate your opinion and where you are coming from Kingscourt. I don't agree with the statement that the majority has ruled though. all we know is that there was not 2/3 of the votes. This means that either: 1) not enough shareholders voted to get the 2/3 required. ie. there could have been a 60% FOR and 0% AGAINST (Hypothetical). There has been no disclosure to the numbers. 2) We don

[pwalk140]

KingC, NO successful business man uses his own money in business.

[Joe454]

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[bigbank91]

i guess we have people that are for and people that are against. it has been good sharing views and i thank all for there participation, even if it is a NO view. we have to think about everything and make our vote on what makes sense to us. im sure that the bigger shareholders are making the decisions on this one but i think it will be a close vote. within 10%.  

[Kingscourt]

Maybe that's part of the problem. 

[indy94]

PWALK- than he is no more than a common thief.

[freedom-1970]

Right now its a coin toss for me , selling ER without shareholders approval is a throne in my side!!  To me  they lack respect for us... If we had  strong merger partners with lots of oil growth and strong balance sheets i would say YES!  What happens if we do not merge now? body knows?. our furture is uncertain and nobody likes that, TO ME THIS IS UGLY!! UGLY!!!

[bigbank91]

pce is holding it up. nova had big takeout dreams and it never happened they were given a 30% premium. and are willing to wait at the cost of no growth. might be waiting a while in this market. the little guy with alot of his portfolio on the line should take the gains and divi. its not ugly its just greedy by pce.

[bigbank91]

my view is nova is not in pce for long term they wanted a big buyout as spy is really pce chx 2.0 and if you like the asset plays and want to see them drilled in this lifetime then its a good deal for you and you get premiums and divis.

[bigbank91]

I agree with avf shareholders on that selling ER for 80m brought us from $3.00 to $2.60 at the merge. its what pce chx wanted they didnt want ER they wanted capx for oil. it was part of the deal which now pce might back out of beacuse of greed. to get back to $3.00 now we would have to get ER back or be priced in at $2.60 merge with this deal or try our luck for another deal which will probably

[freedom-1970]

How about v.arw.?? Just a thought!>

[freedom-1970]

No... Maybe v.pry they are way better!! >

[bigbank91]

cool looking now. need a company that has decent production and is in need of capx like chx. companys like pce chx dont have much choice if they want to grow they need capx either bank, asset sales or share issue. and the bank wins or company buying your cheap assets wins or you dilute your shares and start over. pretty much use avf as a bank and we all win. chx we can go big in 2013 for capx

[bigbank91]

I think the big investors at pce are very low risk investors. pace is hedged and has no dividend and no cash to really drill. the real key to this deal is avf chx. pce is a dime a dozen but was willing to deal. as avf and chx sent in the proposal to pace and pace picked it. the ceo should have known the risk profile of his big investors and they didnt want to risk that chx light oil with avfs cash