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Pace Oil & Gas Ltd T.PCE



TSX:PCE - Post by User

Post by zagorskon Mar 12, 2013 12:51pm
484 Views
Post# 21116756

Nova Bancorp

Nova Bancorp

       Nova came out with a well reasoned statement today.    

       They stated that the major problem with PACE was its 

       management and noted that CHX's management would 

       be no better.        

            

       Nova feels that current management should be ousted and  

       going forward PACE's balance sheet should be strengthened 

      either by a rights issue or a partial sale of assets ( Dixonville? )  

        

       This sounds like a reasonable place to start but they should also 

       have highlighted the assets PACE has that they feel can be developed 

       in a timely and profitable manner.  PACE's management has made a 

       total fiasco out of past CAPEX programs and it is critical to have a 

       CAPEX program that shows results.      

                    

        If current management wants the merger to go through then it is beholden 

        on them to do away with the golden handcuffs and show why their CAPEX  

       program would bring about timely and profitable results.   

                       

      

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