Palliser Oil & Gas Corp. PSLRF

RE:This Financing is the only relevant issue

[roscoe74]

In one sense, jenny is spot on. The only issue shareholders have is whether to vote yes or no to this deal. Whether or not Maha has the ability to add value, whether PXL's existing management is capable of executing guidance, whether insiders are feathering their own nests at the expense of shareholders has absolutely no bearing on whether this deal flies or not.

What jenny fails to mention, however, is that "complaining about everything" is very relevant if shareholders believe there is a better offer out there and that the secretive "strategic review" has allowed insiders to hide their intent. There are 'fairness opinions' and then there are other 'fairness opinions'. 

What is relevant is that shareholders have been given the bare minimum of information. If not for failing to pass the Venture smell test, we would not have this much. Therefore, shareholders need to access all the PXL filings on Sedar and read between the lines.

jenny posts as if accepting this offer is the only option available which I find a tad disingenuous. Considering that the reserves report is a National Instrument document and that the annual financial statements are audited, one can reasonably believe that the net present cash value of net asset value is as stated, $153 million. The Maha offer is ~ $12 million which, according to my arithmetic works out to .07843 or under 8% of NAV.

As other posters quite reasonably mention, there must be other offers out there for $153 million worth of assets that usually, for microcaps, run at 50% of NAV. If not, then jenny is right, unless shareholders consider more value than 8% in voting no and breaking the company up.