Painted Pony Pete Ltd PDPYF

RE:too low

[roscoe74]

The sale offer was likely shopped to every entity with any interest in Pony. I think the fact that the CNQ offer won reflects the fact that, not the debt but the long term processing obligations are a deal breaker for producers like TOU who rely on a model of owning their own processing.

Pony did negotiate a 'financial out' for unsolicited offers but at this point, its wishful thinking. If there was that sort of interest, Pony wouldn't be in this position in the first place. I hope I'm wrong but, meh.