NAL Energy Corporation T.NAE

Press Release - Feb 21, 2012 Press release Februar

[byloselhi1]

The market liked this news.  They also liked it when this offering ws upsized.  There is where the pop comes from.

SS

 

CALGARY, ALBERTA--(Marketwire - Feb. 21, 2012) -

NOT FOR RELEASE OVER UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION INTHE UNITED STATES

NAL Energy Corporation (TSX:NAE) ("NAL" or the "Corporation") today announced it has completed its previously announced bought deal offering of $150 million principal amount of 6.25% convertible unsecured subordinated debentures maturing March 31, 2017, which included the exercise, in full, of the over-allotment option granted to the underwriters under the offering. RBC Capital Markets,BMO Capital Markets and CIBC co-led the syndicate of underwriters for the offering which also included Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., GMP Securities L.P. and Peters & Co. Limited.

NAL will use the net proceeds of this financing to repay outstanding indebtedness under the Corporation's existing bank credit facility, to fund the maturity of the existing 6.75% convertible unsecured subordinated debentures due August 2012 and for general corporate purposes.

[bladerummer]

Curious....anyone tell me how much of this is Nat Gas compared to Oil and are they shifting away from NG.

[Wetcoaster]

this tells all:  https://www.nalenergy.com/Theme/NAL/files/NAL%20Energy%20-%20Corporate%20Presentation%20-%20January%202012.pdf The market likes the new deb, gives NAE  some breathing room and keeps the div safe for serveral months.   But they are taking on more debt.   Their challenge is to grow oily production.   They claim to have high quality drilling

[bladerummer]

All I know is looking at the 10 yr chart this thing is trading at way below average and better be doing something to capitalize on oil over $100. If management is half decent they better fix things soon, with whatever is wrong, enough drilling lets see some pumping is what I like to see if I buy.

[defunct]

Offering the debs at over $9 is s good sign , and yes they are focusing on liquids going forward.