AvenEx Energy Corp AVNDF

Conference Call

[Art365]

In the Conference Call, it was stated that Avenex would be debt free, actually with some cash surplus, following the sale of Elbow River. This sale was described as opportunistic (in the context of Avenex) taking advantage of recent strenght. It was also mentioned that the payment of a high dividend by the new merged entity was Avenex management's essential condition for the approval of the deal.

[kingofcotton]

It's my understanding that Elbow River is a distinct subsidiary of Avenex, and that if the sale closes, and the merger does not go through, the sale proceeds (after any tax) could be distributed to shareholders as a special distribution of ~$1.48 per share.  From what I call tell, there is no requirement to pay down the debt on the distinctly separate oil and gas division.  If the