Pace Oil & Gas Ltd T.PCE

Insider buy

[bakken13]

Jan 11/13	Jan 11/13	Buchanan, Thomas William	Indirect Ownership	Common Shares	10 - Acquisition in the public market	68,000	$3.42
Jan 11/13	Jan 10/13	Buchanan, Thomas William	Indirect Ownership	Common Shares	10 - Acquisition in the public market	82,000	$3.40

 

That's over a half million dollars.

Think about that.

[deisman]

Over the last 60 days Pace is up there with the best of them based on insider optimisim. From INK (TSX) January 16, 2013 Top-50 Companies with Net Buying Public-market transactions of equity securities by company officers and directors over the past 60 days sorted by dollar amount. Where Sector and Industry are blank, classification for these companies has not been identified and may not be

[zagorsk]

    Nice sized buy and why not? The yield is 14%                 

[tulsatea]

This merger is a Ponzi scheme by Buchanan.  It will end in disaster. Provident Energy was another Ponzi scheme by Buchanan.  It would have ended in disaster but the Directors threw out Buchanan. Charger Energy was a Ponzi scheme by Buchanan and was headed toward a train wreck in record time.  However, he is trying to bail himself out by the Pace merger. Buchanan is a serial

[Joe454]

This post has been removed in accordance with Community Policy

[stubble63]

Tulsa...Explain how this is a ponzi scheme, when the dividend payout with Avenex was sustainable at 65% profits to payout ratio then merged with Pace and Charger the divi payout ratio is 35%. Most stock dividend ratios are in the 65 to 90% range and sustainable. PIck up a calculator at the Walmart where you work, do some research and then go away. This kind of fluff is the exact reason I rarely

[Joe454]

This post has been removed in accordance with Community Policy

[tulsatea]

Upon closing, Spyglass will implement a monthly dividend of $0.03 per share with a dividend payout of 35% to 40% of cash flow (approximately $46 million annual dividend) and a target all-in payout ratio (including $80 to $90 million of sustaining capital expenditures) of approximately 100% of cash flow[from the press release] For the third quarter of 2012[ending Sept. 30]: Pace had cash flow of 14

[Joe454]

This post has been removed in accordance with Community Policy

[tulsatea]

Spyglass Key Attributes-----Pro Forma Financial---From the News Release announcing the merger of the three companies Shares Outstanding---129 million Credit Facility Capacity---$400 million Net Debt(2)----$280 million (2) ------Pro forma net debt incorporates estimated cash proceeds from the disposition of the Elbow River Sale and estimated transaction costs and excludes risk management assets

[pennydredful]

Pace   shareholders   should vote  against  this  merger . As  tulsa  tea  points  out  Pace contributes  68.29%  of  the cash  flow    but   Pace  holders   will  only   own   47.28%   of  the  new  company.  Pace  

[rad10]

indeed bakken - you might want to THINK about it.  Perhaps Mr B is concerned the PACE vote will not go according to plan.  Hence his loading up.

[deisman]

Another insider buy and a sizeable one too. Could it be mgmt. is getting nervous and is trying to buy some votes? https://www.tmxmoney.com/TMX/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=pce&x=0&y=0 Toronto Stock Exchange Company Name : Pace Oil & Gas Ltd. Last Updated: January 31, 2013 Date

[caiusbritanicus]

Well it almost offsets this: An affiliate of Nova Bancorp owns 65,200 Pace common shares. CB

[rad10]

No it doesn't offset the nova holding - the record date was mid January - the day after the other large purchases were made. The other large purchases are down 28 and a half grand in the interval.  It is good to share a little of the discomfort the common shareholders have become accustomed to.