WestFire Energy Ltd T.WFE

Not so simple for Sprott......

[can1]

This is not a slam dunk transaction for Sprott. Alberta has some pretty strong legislation in regards to security law.  Even with the creative merger to optimize tax credits and paperwork. The minority shareholders have a right to a separate vote from the major holders and than a comparison of the two percentages will be in affect. (Minority-majority) You also have rights under the dissent law. If it can be proven that the value offered for shares of westfire is under market value or the valuation wasn't according to like companies.  The number I get is we rec'd only 55,000 per boe/d  Cresent Point paid upwards of 70,000+ for similar properties. The dissent process works for small shareholders, however, you have to submit a written letter indicating your willingness to dissent to the deal and be prepared to submit reasons and valuation. Its not as complicated as it sounds. The companies involved have to deal with the dissents. Perfect class action situation. The value is very easy to prove in this situation!!! NO...I'm not a lawyer trolling for business. I have used the tools available to shareholders. Large or small. " We are getting zero value for the hot frac process either" Just do some homework on OPen range and its Posiden spin off. This hot frac process is real. And its very valuable. I bet my life baytex,Cresent Point or other companies seriously want to try this process or buy it!

 Get out your cheque book sprott, your creating a storm.

[jodietoadie]

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[can1]

Show me where in the release that management is behind this deal? It states that the board is in favour.  They would omit sprotts shaes from the vote. Its based on case law. Nice try on the sprott is a minority shareholder! 

[jodietoadie]

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[testy1]

  If you want to know who has jurisdiction look on Sedar.com.  The profile tells you the principle regulator.  I assume they have jurisdiction.    

[can1]

Listen Jodie: Are you in grade 3.  Westfire is an entity. Do you know what that is? OK grade 4   I did not say sue sprott. You attacked me on the day the announcement came out for not reading the announcement. I told you than, none of westfires management were involved in newco. Funny how a merger of guide with Westfire yields no management. Following? So lesson 1 was Westfire is an

[jodietoadie]

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[noob101]

Joadie & Can1 WFE Mgt is obviously not on board with the merger, you can assume that from the PR; I mean seriously these people are now unemployed. Like so many other companies in Calgary Mgt got taken for a ride by an activist shareholder. Guide Mgt under the new BoD will run Long Run Expl. As for the Hot-Frac process, yes it is patentable, and I believe it was mentioned in the AGM by

[jodietoadie]

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[tcfan]

All I can say is that Westfire has been a huge dissapointment. I invested heavily into what was said to be a can't lose (Nuttal) company and I lost big. Just when it looked like it was heading back into the black (or at least close enough to it) They screw up again and the stock plummets. It does not look like the present WFE management is on board. Maybe they are but it sure does not look

[drd8]

it's actually embarassing the shareprice in this environment.

[tcfan]

Had enough. WFE down on a day like this. Sold some more to put my money to better use in Ort. I'm sure WFE will come back eventually, but i have waited long enough and this is just dead money. Not completely out of WFE but getting close. Good luck boys..

[bankerboy28]

I agree...it is dead money...on a day like today and little to no movement...I sold my complete position a few days ago and took a small loss and put my money to work elsewhere and have made most of the loss back in just a couple of days with the market rally compliments of Ben B....good luck to all...BB28   

[mcleanenv]

OKAY....I can assure you that Westfire management is not happy with this arrangement. What's happened here is that Sprott is a heavy investor in both companies and is on the board of directors for both. Sprott is trying to protect a losing interest in Guide with this arrangement. This has been fostered by and pushed by Sprott. Guide is primarily a Gas company - and if you hadn

[fullyautomatic]

My vote will be no as well. I can't see any possible reason why a wfe shareholder would vote yes. Terrible deal for us. I would really like to know if the Pengrowth $6/s was walked away from. Would not surprise me for the simple fact that sprott made an awful investment in Galleon and this was their only way out. SPC sp can't get over $4 either. What a joke

[bankerboy28]

I voted like alot of other investors by getting out of the stock...Lowell Jackson got shafted along with most of WFE management...the only survivor is Ed the Chairman...even if the vote is no and that is not likely with Sprott having such control...what would Westfire look like....Lowell would certainly not want to stick around after this fiasco...he is underappreciated and he had worked very hard

[value1]

while i dont like the exchange ratio at all. go management team is capable of deliver a 50,000 boe/d producer. WFE Management is fantastic at getting to the 15,000 boe/d level. As a side, you sold at the bottom.  sorry about that.