Painted Pony Pete Ltd PDPYF

Exciting stuff folks....

[poise]

“So their shareholders have come to, I think, respect our ability to operate and get good results from our drilling and completions work and getting things built and plants onstream and pipeline access, etcetera. So it’s a lot of faith on their part that we’re going to be able to carry on and enhance their assets with our know-how.”

Ward admitted that the two companies had bandied about a possible deal for quite some time.

“Over time the private companies are always looking for liquidity, so we’ve probably been talking about a merger of some type for at least three or four years. The opportunities come and go; the timing and our desire to do an acquisition and our ability to do an acquisition comes and goes with the market as stock prices come and go, as well.

“So it took a long period of time before the right things were aligned properly so that we could come to an agreement as to what’s fair value for the company.”