AvenEx Energy Corp AVNDF

time to address the shareholders.

[rad10]

How can Dundas be out of the office and unavailable for a week?  how come emails to management enquiring about the back up plans and alternative arrangements are going unanswered.  

Best thing to do after screwing up is - MAN UP - and address the shareholders.  Let us know what the vision for the future of avenex is.

[Kherson]

 I would assume Dundas is in Pebble Beach playing golf at the Spyglass resort... Kherson

[deisman]

I agree rad10.  FYI this is what I received from Dundas back in January. [e-mail] via srs.bis6.us.blackberry.com  Jan 22   Reply   Thanks for the email. The

[bigbank91]

thanks alot for the info deisman. looks like they will be in talks to deal. hope they focus on light oil and growth. im sure they are in talks now as you said you got that in jan. at least they were prepared for a no vote which to me sounds like another merger as ER is gone and drilling would take to long. again that is great info. thanks. we do know pinecrest and charger are on the block with

[Kherson]

 I find the e-mail from Dundas kinda odd. The company had the cash flows when we had Elbow River. I still don't see the benefit of selling ER or the proposed merger as being net beneficial to Avenex. On top of that, the 25 million merger costs are just over the top... Kherson

[Joe454]

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[bigbank91]

I agree with ER we were sitting at $3 without it $2.60 merge value. i think they made the decision that with any merger with oil companys we were going to have to be the capital part of the deal meaning either sell elbow river or no deals. i think if they deal failed they either have a plan B and said no turning back now. i think the ceo didnt want to continue running avf as it was going to be low

[bigbank91]

i agree . ER is gone. now its time to start over and merge with light oil and have steady growth for a few years with our capital and then hedge in for dividends.

[bigbank91]

i also think that the way pce has ran there company they have attacted very low risk investors like the cpp that want the asset base in place for the next 50 years and just rely on hedges going up. the ceo there i think wants out beacuse he sees no growth without huge asset sales.

[Joe454]

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[bigbank91]

Joe, do you even own shares in avf ? are you for or against the merger ? are you for light oil ? are you a mod on this board ? you have insulted everyone that has posted and said carry on.

[bigbank91]

if you dont like what anyone is saying why are you even here like delete your account and go play baseball or watch nascar

[Joe454]

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[bigbank91]

lol. well there you go. you got to share your views more. as i do like avf chx and cocacola 600

[Joe454]

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[Joe454]

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[freedom-1970]

Lets pay this board off !!merge with PRY and let this board  run the show!!! they know how to grow a company!! they just got 12.5 million break free !!! smart boys!! and guess what!! they want to be a divy company!!! I vote yes a  to PRY  MERGER!!!!!

[rad10]

I own avf and chx , and hope to own SGL , and I like nascar , wish you well.   Course you do Joe -  circa 1980 used car dealers lap this up !

[deisman]

Being open minded really sucks at times Kherson and with each piece of new info it just seems to add to the confusion.  As far as ER goes, I just don't know if it was a good or bad move.  What I do know is they have have cash and licenced a couple of new wells last month which I see as a positive.   I'm looking past the failed merger, sold my Pace shares earlier (at a small

[rad10]

deisman / kherson - the contrarian in me really wants to buy more - but I want to know how committed the management team is.  The lack of information, the lack of updating the website the poor communication is off putting.  The focus might be on pursuing an nhl franchise rather than making me some money. 

[Al42]

i agree,don't think their interests are aligned with shareholders. This is why they should step down!!

[Kherson]

 It really does seem that the management team is not committed to actually running the company. As I have said before, the BOD now needs to take control and make the necessary changes to the management team. Now that ER is gone, the management team at the corporate level, Gallacher, Dundas and O'Grady are no longer needed... Kherson

[Joe454]

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[linus4]

They can't really say anything until this merger is scuttled..probably updating their resumes as the chant for a change in both BOD & management increases..It would be nice though if they did answer shareholder's ph. messages ..I voted against the merger but was willing to at least listen to some of their answers to questions/concerns which I had regarding this deal

[tipit55]

https://www.ctvnews.ca/business/swiss-approve-plan-to-curb-excessive-executive-pay-1.1179658

[rad10]

you're right Linus - there are so many better opportunites out there.  I had a couple of questions before the vote and couldn't get anywhere.  I'll probably take a tax write off on AVF after the dust settles.  The current situation is a little too contrarian!  Done OK on Enerplus and Parkland so it's give and take.  

[Joe454]

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[Kherson]

 Joe454, what exactly do you mean when you post, "time to move on"? Kherson

[Joe454]

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[Joe454]

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[Kingscourt]

Joe, do you believe the management teams deserve to walk off with over $25,000,000 of company funds? This is a sticking point for many of us as it a substantial chunk of capital. This would benifit the companies a great deal, merger or no merger. Many of us do not feel they have earned it and we could care less what their contracts state. Many of us common folk have seen our "contracts"

[Buynsell2013]

Well they will walk away either way ... With $ 25M.... merge or no merge ..that's what they were given and signed on it ..what we have to do as shareholders get rid of them and move on to save other millions at stake ... And look at the best options to choose .... What options we have as today ... 3 orgs merge and better scope as spyglass.... Or wait for worse ... Until its too late.. One

[Buynsell2013]

I am voting for YES to the merge because it does make sense .... and move on to save what I have in both PACE and AVENEX ... Still optimistic and see what happens on march 26 cheers  

[Joe454]

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[Kingscourt]

The lack of concern over this issue by some makes me cringe. If you really don't mind being ripped off, give me  your address and leave your car keys in the mail box. Then you can just move on right?

[Buynsell2013]

We as shareholders as you said,, king court.. Being ripped.. We take risks n chances and make money .. That's what we are here for... Management failed to perform ... Too bad... Now we are not going to just sit there and cry over it ... Move on to the best option available and keep yourself optimistic ... That's what these markets are all about.. now I see an opportunity to grow and bigger

[Kingscourt]

I would agree that there are a few inherent risks that come with investing in an oil and gas company, such as O&G price fluctuations, well reserves, depletion rates, currency fluctuations and even natural disasters. Management walking off with boat loads of cash for, as you put it, a failed performance, is not a risk, it's theft. The fact that CPP owned this stock is a slap in the face to

[pwalk140]

"Fortunately, for me, at least 33.3% of the shareholders agree" Again here we are presuming numbers and making them up.  PLEASE inform me where you have the facts that 33.3% of any of the companies involved had 33.3% votes AGAINST? All we know is that the majority sharholders were FOR the arrangement. I'll state it again: 1) it's possible not enough votes were in FOR or

[Joe454]

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[rad10]

How can you stick to facts when none are forthcoming?  I have tried investor relations and execs at both companies every day.  They do not return voicemail or respond to email. We can surmise that at least one of the companies had at least 33% of the vote against.   In order of likelihood it goes Pace, Avenex, and then Charger.  Why do you think Mr Buchanan loaded up on PCE

[Joe454]

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[Kingscourt]

I have not made anything up pwalk. You are correct, any of those could be possibilities. What I meant is that at least one of the companies must have had a 33.3% no vote, as the merger was clearly not successful. 

[mo1975]

right again Pwalk....we can only assume....here is a fact...  the announcement stated that the majority of the proxys sent in ," that were eligible to vote at each of the meeting"  were in favor of the arrangements.. Again I  beleive that they meant that the majority (combined result of the proxy,s sent in that were eligible to vote at each meeting) are in favor of the

[rad10]

Charger stock is trading at 11.5% of Avenex  (18% is proposed under Spyglass merger) Pace stock is trading at  129% of Avenex (130% is proposed under Spyglass merger) Intelligent traders offloaded CHX after the 40% upswing in late December.  It might be time to load up again at the new 52 week low. 

[Kingscourt]

Thanks Joe, I appreciate the support. I would like to make some of my capital back too, but I wont budge on this issue. We have made it this far and I am hoping for some better news before the 26th. 

[Joe454]

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[mo1975]

Joe, the severance package offered in a buy out or merger is quite different then the regular package.. I do not have all the details of their individual contracts but for an example...stock options... the normal course of stock options is given to retain high quality individuals with the company.. most options are to be vested over several years therefore it is a motivator for that person to stay

[Buynsell2013]

My vote is still YES ... Nay advocates are still unable to impress us ... Tell me top three best things will happen to AVENEX if there is no merge ... And AVENEX is standing alone in the market after march 26 .. Even though hands are not tied now how many other offers are put on the table??  Tell me 3 top things we can do to AVENEX today to change the road map 

[Joe454]

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[freedom-1970]

First we need a new CEO and board! We can buy or merge with at least 3 to 6 other companies. How would we know if any offer was on the table?? We don't even. Know our vote results! After the sale of ER our company lost the heart of our money flow, now these boys are lining there pockets! We all know the winners are the BOD in avf. Not us... >

[Joe454]

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[freedom-1970]

I voted no! Because they sold ER without a vote or thought from shareholders! A special divy to us shareholder should have been made for a least 1 buck! Now we have cash and good companies are wanting to merge to become a dividend companies. One example is v.pry, great fit now with our oil assets!! We do have options! >

[jjeerryy]

My vote is still YES ... Nay advocates are still unable to impress us   You are good Buynsell2012.  Even if you were only born 2012 ;)   I am Jerry 1942, 71 today and wise enough to vote YES!