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Bullboard - Stock Discussion Forum Petroglobe Inc. PTGBF

Energy Oil & Gas E&P
"PetroGlobe Inc is engaged in the exploration, development, and production of oil and natural gas in Canada. The Company holds interests in Pembina Cardium light oil, Pembina Edmonton Sands natural gas, and Red Earth Slave Point light oil properties located in Alberta, as well as Sawtooth oil property situated in the Grand Forks/Taber area in southern Alberta."

GREY:PTGBF - Post Discussion

Petroglobe Inc. > Well, I have to Recant...
View:
Post by Naamkat on Jun 25, 2010 9:21pm

Well, I have to Recant...

Spoke to Jason James today.  Not surprisingly, he didn't tell me the result but he did tell me to look for a news release no later than Monday on the pending deal and financing.

The "financing" angle was news to me.  Maybe I missed that in the news release 5 weeks ago.

Regards,
Naamkat
Comment by shotski on Jun 25, 2010 10:45pm
Thanks for the update Naamkat.  The financing  is a first for me as well but in my email Don  said " The amalgamation is being finalized " so maybe they needed to get financing for the combined debt.
Comment by tman47 on Jun 27, 2010 10:49am
Thanks for the news guys. I guess we'll find out next week as to whats happrning with this merger. Hopefully we'll all makeout alright.GLTA
Comment by smithgee on Jun 27, 2010 7:06pm
financing is often part of these merge deals ... SEL another one of my holding went through the same thing.The stock was trading at .20 when it was halted and the financing was done at .25 ... it opened at .30 and is now trading in the .56 cent range.
Comment by Naamkat on Jun 27, 2010 11:03pm
smithgee:I've seen many myself, but rarely when the copmany is acquired - usually when they're in the driver's seat..Regards,Naamkat
Petroglobe Inc.