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

[Sogosohubidu201]

AIMCO knows Pieridaes assets very well since Pieridae bought central Alberta Foothills assets when it acquired Ikkuma Resources Corp. (TSXV:IKM) from AIMCO and others for approximately CAD 94.6 million on August 23, 2018. Pieridaes central Alberta Foothills has PDP NPV 10 of $203 millions currently that itself can justify the current Pieridaes current enterprise value of $220 millions. The issue

[msawyer5]

Sogosohubidu... You know not of which you speak. Pieridae merged with Ikkuma in 2018 at a reported cost of $94.6 million. Shell sold the so-called Foothills Assets to Pieridae in 2019 for a reported $190 million. Part of the Shell Foothills Assets are included in what Pieridae describes on thier webpages as "Central Alberta" (Jumpingpound and Caroline). As for AIMCo, it is a Crown

[Sogosohubidu201]

Are you denying that the issue of transfer licenses from Shell to Pieridae is only related to Southern Alberta Foothills? You can go back to Pieridae's old slide. It is in their slide.  in terms of Pierdae's acquisition of central Alberta Foothills from AIMCO: “Pieridae Energy Limited (TSXV:PEA) entered into a definitive agreement to acquire Ikkuma Resources Corp. (TSXV:IKM) from

[commonsense101]

You keep saying that Pieridae bought Ikkuma from AIMCO. Read down through from the excerpt you posted, and it says AIMCO was 19% shareholder. More to the point- you are trying to deflect from the simple fact that the bulk of the producing and revenue stream assets come from licences Shell holds.... and it is not just "taking some time" to get the licences transferred. They dont get

[Sogosohubidu201]

AIMCo was not only a major shareholder of Ikkuma, but also the control debt holder: "Ikkuma Resources Corp. (TSX-V: IKM) has completed a financing with Alberta Investment Management Corporation (AIMCo), providing for a $45.0 million second lien senior secured term loan, which bears annual interest at 7.25% and matures on March 31, 2022." Again Pieridae purchased IKM from AIMCo and

[gassygeezer]

Anyone know what PIE LLR ratio is with the Regulator? Therein lies the answer

[commonsense101]

Nobody seems to have the definitive answer about Pieridae LRR. A few years back the LRR itself seemed to be under scrutiny by the AER. Like whether it was adequate for measuring a company's financial capacity to meet longer term regulatrory obligations. This general questioning was at the same time that Shell's application to transfer the licences was before the AER- where it was the

[gassygeezer]

Peridae and the Regulator know, as does Shell whom knew transferring out of liabilities to a penny stock was risky, however the Reg has learned its easier to go after deeper pockets..all in all Aimco,Shell underwriting this is a problematicc company to evaluate....and Insiderss bought recently....Shell may end up owning this again

[msawyer5]

gasygeezer.... you may be right!!