TORC Oil & Gas Ltd. T.TOG

Primary Symbol: VREYD

Energy Oil & Gas E&P

TORC Oil & Gas Ltd engages in the exploration, development, and production of oil and natural gas reserves in the southeast Saskatchewan area. Crude oil constitutes an overwhelming majority of the production mix the company gathers from its assets. TORC gains access to its assets through government issued royalties and uses various techniques to identify hydrocarbon reservoirs. The company focuses heavily on light oil resource plays and relies on a three-phased strategy of resource capture, delineation, and production growth.

OTCPK:VREYD - Post by User

TORC Oil & Gas Ltd.

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Comment by strzelinon Sep 24, 2009 12:37pm

620 Views

Post# 16335334

RE: Deadline

It does not make any difference what the deadline was or the option the TOG shareholders selected.

99% of TOG shareholders will receive $3.75 plus 0.389 of PetroBakken Class A share.

The maximum cash consideration is $583 millions. With 152 million TOGshares, 151 million will receive $3.75 =$566 million and only 1 millionshareholders will get $14.75 for the sub total of $581 million + small change.
36% of PetroBakken Class A share (61.7 million) out of 171 million total will be allocated to TOG shareholders.
Based on the above only handful numbers or TOG shareholders will receive 0.535 option.

Today TOG trading is indicating $27.5 per new PetroBakken Class A share ($14.45 -$3.75 /0.389=$27.5) . Dividend yield 3.5%.
Good luck, Jurek.

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