Inconsistent PR reporting and some other niggles… In today's release of Q & Annual Financial Results, PRQ states quite clearly that "On March 1, 2022, the Company entered into a definitive agreement to acquire producing oil and gas properties that are held by a privately owned limited partnership...."
Mmmm... this is materially different information than that disclosed just 2 days ago when PRQ stated that "Through the acquisition, Petrus will receive a contiguous, high-working-interest, Cardium land position in Ferrier..."
So producing what? Exactly?
Further, because the Ferrier Land Deal or acquisition of "Producing Oil and Gas Properties" - which is it - was in value less than 25% of the market capitalization of PRQ, it doesn't require formal Financial Valuation or Shareholder Consent/Approval.
Fine. We all know the rules but given the broad inconsistency of what exactly is proposed to be purchased and as I attempt to point out above, wouldn't you now think it necessary & prudent that the Independent Directors at least did us the courtesy of informing us that indeed (a) PRQ did get commissioned; and (b) please disclose who/which firm conducted same?
GLTA