Pieridae Energy Ltd T.PEA

Very old Shell Canada News - SHELL FINALIZES TRANSACTION WIT

[Sogosohubidu201]

Oct. 16, 2019

Calgary- Shell Canada Energy today announced completion of the previously publicized agreement that will see Pieridae Energy Limited purchase its Foothills sour gas assets......

https://www.shell.ca/en_ca/media/news-and-media-releases/news-releases-2019/shell-finalizes-transaction-with-pieridae-energy-limited.html

[Sogosohubidu201]

Pieridae Energy Ltd. has closed the purchase of all of Shell Canada Energy's midstream and upstream assets in the southern Alberta foothills for C$190 million ($142.5 million USA)

[msawyer5]

And your point is? The AER rejected the Shell application to transfer the Foothills Assets to Pieridae. Shell reapplied but subsequently withdrew its application. Nothing since. Pieridae is currently not the Licensee for all of the Foothills Assets... And this is a big problem for Pieridae... Not to mention the Alberta taxpayer when Pieridae bails and leaves a multi-billion, yes, billion

[Sogosohubidu201]

My points: PEA.TO bought and own all assets,  100% and absolutely certainty. The transfer of licensee will occur, but it will take some time to satisfy AER, both Shell and PEA want to do it. AIMCo recently contributed around $30 millions into PEA as 47% shareholde and they know much more about this you and anybody else. This will get done.

[Sogosohubidu201]

As the legal owner and operator, PAPL [Pieridae] is currently responsible for the day-to-day operation of the Foothills Assets and is responsible for conducting all actions necessary to ensure compliance with applicable laws on behalf of itself and Shell. This is because while legal title for the Foothills Assets has passed to PAPL, Shell remains the licensee of record.

[commonsense101]

"This is because while legal title for the Foothills Assets has passed to PAPL, Shell remains the licensee of record." And all of the cleanup liabilities effectively remain with Shell- at least until the licence is successfully transfered. You said transferring the licence "will take time." Now there is an understatement. We're at 5 years, and no evidence any progress has