NAL Energy Corporation T.NAE

NAL take over

[madmax1980]

Does any one know about the PGF / NAL take over?

[DMR001]

Does any one know about the PGF / NAL take over? madmax1980 - here is a link to the sales pitch presentation:https://www.nal.ca/Theme/NAL/files/Conference%20Call%20Presentation%20Final_v001_t085hl.pdf Here is a link to the news releasehttps://www.pengrowth.com/news/news_release?releaseId=1588481 I am not totally pleased with what is going on see my earlier post:https://www.stockhouse.com

[themangokid]

hard to disagree.  nal management cuts the div to make the already determined pgf deal look more attractive, imo.  however, do you really want to turn the deal down and continue to roll with nal management?  it can be easily argued that thay have not acted in the best interest of shareholders.  at the very minimum it can be argued that they have not done a good job

[madmax1980]

thanks for the info DMR001.... I am not please with the deal also... specialy that it is evident that once they merge PGF will definatly reduce their dividend... they can't continue to pay .07 per share....  

[DMR001]

themangokid - you commented on my earlier post and the overbearing question (you raised) is why did NAL management support the take over (given they are to be trashed in the process) and I'd certainly like to understand that a lot better. What exactly was in it for them? I am not really sure that we will not all be better off if the merge is permitted to go ahead but I remain somewhat

[themangokid]

no idea what nal management's movitation was for selling.  it sure does appear to me though they didn't seem motivated to shop the company around, in my opinion.  its not surprising that no other bidder has immediately stepped forward cuz who wants to get entangled in a hostile takeover situation when there are so many other properties on the sales block?  A few days

[bladerummer]

Clearly this whole thing is designed to rip off all investors while insiders and management all live on huge salary and expense sheets that they will ulilize to the maximum. Hundreds of millions will be stolen from shareholders with bogus expense forms and accounting. Welcome to the TSX. They do nothing to protect investment. Pure garbage, never again.

[canuckelhead16]

the problem has always been manulife as the partner in all assets.  What other company is going to bid on assets NAL only has 50% interest in... some areas being bought manulife will be operator of.  Marlon having been at NAL knew about how the relationship works and is probably best suited to continue the working relationship, so it's not surprising no other offers would come

[DMR001]

canuckelhead16 - Thanks, very helpful. Now I am starting to understand the backgound behind the decision to merge with PGF and the reason for the management and BOD supported it but didn't say as much about it as I thought they should. Why do you think NAL will drop like a stone without it?

[forwardflash]

canukelhead16- one more question for you, what do you think the distribution will be after the merger?   ff

[canuckelhead16]

Just based on their track record... the last couple of years unfortunately I've been a share holder and they miss their guidance, or lower it all the time.  They raise capital spending just to keep production flat.  They were going into debt to pay the dividend.   They are over 50% gas with most of it un-hedged going forward.   Don't see much good news