Brixton Energy Corp PMBJF

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[beenaround2012]

Brixton Energy Corp
Symbol	C : BRX
Shares Issued	50,728,219
Close 2012-07-23	C$ 0.035
Recent Sedar Documents View Original Document

Brixton Energy to seek OK for 65% Alberta well stake

2012-07-24 10:17 ET - News Release

Mr. Richard Saxon reports

Brixton Energy Corp. is providing the following corporate update. Further to the news release dated May 4, 2012, the company will submit to the TSX Venture Exchange an application for approval on a purchase of an additional 40 per cent of its Panny well 8-25-95-5W5, of which the company currently holds 25-per-cent working interest. Brixton will issue three million common shares of the company and 1.5 million warrants, entitling the holder to purchase an additional common share at 10 cents for a period of one year from the date of issuance.

Brixton has now received all the necessary contracts from Pengrowth Energy Corp. to ensure that the well can be tied into Pengrowth facilities and can be brought back into full-time production. Subject to the TSX Venture Exchange approval of the purchase transaction, Brixton will have 40-per-cent working interest and additional 25-per-cent carried interest in this well, for a total of 65-per-cent interest.

The company also wishes to announce that it will submit to the TSX Venture Exchange a shares-for-debt-settlement application for up to $200,000 at five cents per unit. Each unit shall consist of one share and one two-year warrant, entitling the holder to purchase an additional share at 10 cents in the first year and at 15 cents if purchased in the second year. This debt settlement is subject to TSX approval, and the company will continue to work with its creditors to reduce its debt.

[rborhi]

Looks good, but I've sold all my shares.  You can thank me if the share price goes up now, which it probably will!

[Mandara]

Look at the history of this company - you did the right thing.  Prices will not go up - they're lower than after the rollback.  What happened to the Saskatchewan drilling program?  Now they're going to the East Coast?  Say hello to ULTRA-premium prices for services and equipment.  As far away from the Alberta oilfield nucleus as you can get?  Whatever

[dontaskitsbigger]

@ Mandara: Great post!! Now a little Due Dilligence of my own: One needs to look no further than how many shares our president (and I use that term loosely) holds: 548,006 (this can be viewed in the recent ‘proxy’ for Brixton if you did not get one mailed to you it can be viewed at:https://sedar.com/GetFile.do?lang=EN&docClass=10&issuerNo=00007519&

[wholesomepath]

Thank you to the sellers, now I'm getting filled at prices lower than that of weeks ago :)   To make claims that the CEO is gifting shares and hitting the bid at the end of the month is rather slanderous and immature. All of these acusations and asumptions are hell of a lot more speculative than re mortgaging your house and going all in on BRX. When I see people bashing like this I can