Cardinal Energy Ltd (Alberta) T.CJ

TVE is diluting shareholders big time .

[divime1]

CALGARY, AB, Sept. 12, 2022 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce that it has entered into a definitive agreement (the "Agreement") to acquire Deltastream Energy Corporation ("Deltastream"), a privately held pure-play Clearwater oil producer, for total net consideration of $1.425 billion, consisting of $825 million in cash, $300 million in the form of a deferred acquisition payment ("DAP") and $300 million of equity comprised of approximately 80 million common shares of TamarackCALGARY, AB, 


Sept. 12, 2022 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and National Bank Financial Inc. (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, for resale to the public, on a bought-deal basis, approximately 33 million common shares ("Common Shares") of Tamarack at a price of $3.75 per Common Share for gross proceeds of approximately $125.0 million (the "Offering"). The net proceeds from the Offering will be used to partially fund the acquisition of Deltastream Energy Corporation ("Deltastream"), as separately announced today (the "Acquisition"). The Underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Offering at a price of $3.75 per Common Share to cover over-allotments exercisable in whole or in part at any time until 30 days after the closing.

[MohelJFox]

So happy it isn't CJ even though I carry 40'000 shares of TVE. I don't think they paid to much but I can't believe the backwards direction they are taking compared to their peers. And then they dowse the fire with 3 Pennie's a year per share----whoah that's not going to be well received ! Their target is to get to under 500 million debt lol, imagine waking up to that

[divime1]

How much of the new production will they need to hedge to please the banks .