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Painted Pony Pete Ltd PDPYF

"Painted Pony Energy Ltd Petroleum explores, develops, and produces petroleum and natural gas. The company focuses on the development of natural gas and natural gas liquids. The company's operations take place near the Montney formation in Northeast British Columbia. The Montney location is a sweet natural gas-saturated zone (natural gas that does not contain hydrogen sulfide or significant quantities of carbon dioxide) with no associated or underlying water. The company also has multiple gas pr


OTCPK:PDPYF - Post by User

Post by northernbearon Aug 10, 2020 12:28pm
280 Views
Post# 31387910

Waiting it out

Waiting it out

You can tell by the tone of Painted Pony's release, that they're portraying it as a slam dunk and done deal -- it is not. Still need a shareholder vote, which won't happen for another month.

Plus, there's only a $20M "non-completion fee" penalty if PONY backs out of the deal. 

If a significantly better offer from another suitor comes through, (which it should b/c forward value o f assets is MUCH higher)  that is a relatively small amount In the context of a higher and still fair value from another buyer. 

Absolutely nuts to contemplate an only 69-cent offer. Keep your head in the game a little while longer, Patrick!

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