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Bullboard - Stock Discussion Forum Prairie Provident Resources Inc T.PPR

Alternate Symbol(s):  PRPRF

Prairie Provident Resources Inc. is a Canada-based company engaged in the exploration and development of oil and natural gas properties in Alberta, including a position in the emerging Basal Quartz trend in the Michichi area of Central Alberta. The Company has 167,869 net acres in its Michichi core area with approximately 40 Basal Quartz potential drilling opportunities targeting light/medium... see more

TSX:PPR - Post Discussion

Prairie Provident Resources Inc > PCEP now owns 75% of PPR
View:
Post by filefish on May 16, 2023 5:36pm

PCEP now owns 75% of PPR

The Former Noteholder, PCEP Canadian Holdco, LLC, acquired 514,408,902 Common Shares pursuant to the Subordinated Notes Settlement, and a further 26,516,207 Common Shares pursuant to the Warrant Exercise, for an aggregate holding of 540,925,109 Common Shares.
Question is - what will they do next with the Company?
Comment by RHertig on May 17, 2023 9:45am
 I actually like this transaction. I would have hoped the high price of oil would have helped but mandated hedges killed us. I think you will see expedited reactivations of closed in wells and the work over program. Then some Princess wells. With a 20 year RLI and our tax pools I would not be surprised to see a buyout or merger. 
Comment by kurt73 on May 17, 2023 8:12pm
Theres going to be 800 million shares roughly I think. Unless I am wrong. isnt this concerning? Is debt 100 % eliminated?
Comment by filefish on May 17, 2023 3:22pm
Some background on Dallas, Tx based Prudential Capital Energy Fund, of which PCEP Canadian Holdco is a related company. https://www.pgim.com/press-release/prudential-capital-energy-partners-raises-343-million-first-energy-mezzanine-fund
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