AvenEx Energy Corp AVNDF

scotia analyst

[bigbank91]

after reading the scotia analysts comments on pce.

pce is sitting at $2.75 you really think its going to be worth $5.50 per share ? how ? double your cash flow without adding debt ?

a couple questions,

how do you think your going to pay for the 9 million dollar break fee ? the severance paid to the management that nova will vote out ?

you have no credit, all your cashflow is going into 2013 capx which is 13 million 1q.

take the 9million out of your capx program leaving you with 4million to drill. lol. and no you couldnt even afford to get rid of your management, and what kind of management wants to come to a broke company ?

scotia even says 'looking at asset sales to focus on light oil' lol so you want to become your own spy ? with trying to sell dixionville and gas, that will cripple your cash flow after the sales and no one is going to pay anything for just property in dixonville or montney.

scotia says hoping for another incoming bidder. lol you have been on the block since august 2012 and other companiess know about the merger and know about this month, if they had any desire then they would have called you.

[bigbank91]

the analyst answered his own questions. debt outlook was better as spy 175million capital then with pce alone 0capital. pce was looking at asset sales before the merger, meaning no one wanted dixionville and montney so they would rather keep the production and merge. then from there focus everything on light oil. pce doesnt want dixionville , spy doesnt want dixionville who wants it ? hoping that

[mo1975]

I thought that the revised arrangements took away all those break out fees.....did i read that wrong!!

[bigbank91]

yes you read it wrong. the break fee is waived on the spyglass deal IF any of the partys find another deal that is better than this one. if no better deals are found then a vote on the 26th and the break fee still applies. 9 million for pce which none of the analysts explained how they would pay for. it will have to come out of their capx program.

[rad10]

Termination fees are not payable if merger rejected by shareholders.  where did you get that from??????????

[bigbank91]

avf press release under. Amendments to the Agreement, Each of Pace, AvenEx and Charger have also agreed to eliminate the payment of all termination fees by any party in the event that, among certain other circumstances, a party accepts, recommends, approves or enters into an agreement to implement an acquisition proposal from a third party which is superior to the Arrangement. latest pce press

[rad10]

If this goes to a vote and the merger is rejected by shareholders - termination fees are NOT (and have never been) applicable - I assure you.  This has already been discussed ad nauseum. The whole point of the termination fee was to dissuade third parties from entering competing bids for any of the three companies during the build up to the initial vote.  Self serving - yes indeed - but