Painted Pony Pete Ltd PDPYF

Up against the wall

[Oldnagger]

P W pulling out the big guns see PP news!!

[Oldnagger]

Google Proxy advisory sevice ISS then read Wikipedia article then google Vestar (their owners) Vestar is an LBO firm. By the way where is the ISS fairness report or any documentation of their expertise in Canadian natural gas?  One thing seems certain and that is that their so-called consulting services don't come cheaply. Imagine  PP management paying big dollars to get an

[roscoe74]

Its the shareholders that are up against the wall. In a chat with the company, the thrust of the decision making process is two fold. The banks are not extending credit and the transportation take or pays due Jan 2021 are insurmountable. There is no liquidity. Lenders are simply de-marketing their clients. Until the vote, the bank line is drawable to $C 250 million of which $165 m is drawn and

[Ridgeback]

So what you are saying is there is no valuation in Pony.  Sure everything in gas/oil is in the ps hole including events on east cost thanks to Mr. Dressup cross Canada lack of pipeline.  I can not fathom there is a no other way out , not just the easy way? I guess we are all going electric cars and they won't have power generation to fuel them cheaply? Or will they after enegy

[roscoe74]

I'm not saying there is no value in Pony, the banks are by denying credit to the entire sector. When banks pull the plug, even well managed entities get caught in the demarketing. I am sure that CNQ will have the liquidity to capitalise on the inherent value but I am also sure that Pony will not. Senior banksters will decide they are overexposed in a certain market or geograpic area and send

[Oldnagger]

I have been following your comments for a long time and many have been an inspiration to me as a long term bull on Painted Pony.  Whot surprises me now, is what I see as a recent reversal of your optimism. I know you don't like PW and it seems you don't like banks but my question is are you optimistic or not on natural gas pricing ? And do you believe that the price will be high

[roscoe74]

I, along with the rest of the minority shareholders, have been gulled by Pony's public optimism in the face of a reality counter to said optimism. We focus on solid metrics that do not reveal the reality of a liquidity squeeze not based on metrics but on political bias and Covid uncertainty. What reasoning, oldnagger, can you present to us to explain the abrupt U-turn by Pony from enhancing

[Oldnagger]

I simply do not know why this take-over was proposed. I do not know of other instances where credit lines were threatened to be cut in half in the midst of the Covid-19 Crisis. And especially not when there were obvious signs of market improvements every where. Neither PW nor the banks have offered to shed any light on this matter publickly. If they are sharing info through investor relations then

[Ridgeback]

Perhaps being a little naive on my part I have to wonder wonder why the management did not openly put Pony on the market to see what expression of interest there may have been?  It appears they took an easy exit. Much of the blame has to go to the Feds. Look at Mr. Dress up, he said he/Feds would plant a billion trees over ten years but so far planted none just like they have done little to

[Oldnagger]

Some answers just came in concerning the rake-over : Pipestone energy has just closed a convertible preferred financing at 6.5% and at  $0.85 conversion price (vs $0.54 share price. Obviously , other financing is available and we are being sold a bill of goods by management..   Vote no , then throw these fools out at the next available opportunity . Enough of these fear-mongerers.

[Squint1]

I agree with most of what you said - except for how shareholders will fare under CCAA.  There is substantial asset value there as of Dec. 31, 2019 and more now with higher gas prices.  When the assets are sold off piece meal by the receiver, they will likely generate more cash than if sold as a whole with the obligations.  How will the take or pay obligations and other long term

[Aldan007]

Hi Rocoe74, just to understand it correctly: you are saying that you had a chat with investor relations? And in this chat they provided you all the information you posted? Honestly, if this is true, I'm wondering why this information has not been released and why the shareholders of this company didn't have a clue about how severe the situation is. My understanding is that this