AvenEx Energy Corp AVNDF

disgusting

[bakken13]

Instead of monetizing our oil and gas assets, and keeping the best part, we are selling the best part and then over-paying for two companies loaded down with debt.

Brilliant, simply brilliant.

And our dividend drops, again.

[jacek99]

Hi,   I didn’t notice any details on what happens with the proceeds ($80 million) from Elbow River?  Does is just go into the new corporation?    Jack

[bakken13]

The extra $80 million is just our "contribution" to the new company. The others contribute a lot of debt.

[pone]

I share bakken13's impression here.   They took away the one asset with unique value, and they are combining us into a garbage entity with too much debt.   Has anyone calculated what Avenex's part of the combined market cap company should be?      Then on top of that we should add a $1.50 cash payment for Elbow River, or are they going to screw us yet a third time

[Kisu]

So who is buying Elbow River?  Might be worth following that asset.  

[Kisu]

Found it - Parkland is buying.

[pone]

That is Parkland Fuel on Toronto?   They are unfortunately already pretty expensive.  No bargain there.   Does someone have a rundown on what Parkland does?

[Kisu]

Yes.  They are expensive and currently a market darling.  They are a fuel marketer.  Check their website.