VIRGINIA HILLS OIL CORP VFGGF

Notice of special meeting - not good

[sellthefarm]

I saw that PRY published a notice of special meeting last night.  I hadn't/haven't seen a press release about this.  Meeting date is March 5, 2015 for holders of record as of Jan 28.  Materials should be mailed shortly.  Really poor communication as they should have press released this.  If its not a material event then fine but there's no way these guys aren't sitting with material undisclosed information.  Hmmmm

Subject: PINECREST ENERGY INC

Dear Sirs:

We advise of the following with respect to the upcoming Meeting of Security Holders for the subject

Issuer:

Meeting Type : Special Meeting

Record Date for Notice of Meeting : January 28, 2015

Record Date for Voting (if applicable) : January 28, 2015

Beneficial Ownership Determination Date : January 28, 2015

Meeting Date : March 05, 2015

Meeting Location (if available) : Calgary

Issuer sending proxy related materials directly to NOBO: No

Issuer paying for delivery to OBO: Yes

Notice and Access (NAA) Requirements:

NAA for Beneficial Holders No

NAA for Registered Holders No

Voting Security Details:

Description CUSIP Number ISIN

COMMON SHARES 723033106 CA7230331067

Sincerely,

Computershare

Agent for PINECREST ENERGY INC

[Shlinker_]

No doubt a share consolidation and a finacning to follow. We will never recover our money folks. What a mistake.

[Catalac]

Surely will be to announce divestiture of assets for what they can salvage to pay down debt, and Becker is out he hasn't been to office in month just not public yet.

[Fullblast]

I'm not sure how this works, but if there was a buyout offer, would that be presented in such a special meeting ?

[sellthefarm]

If there was any offer to sell or anything else that would have a material impact on the value of the business, the cash flows of the business, etc., they would have had to announce something.  You can't just post a notice of a special meeting to SEDAR and not press release it if the context of the meeting is going to be material to the business.  You can't post the notice to

[Fullblast]

Understood sellthefarm. Let's hope that they are aiming for something out of the ordinary.

[Shlinker_]

It will be to advance a vote on share consolidation. That's it. That's all we have left.

[Fullblast]

I don't mind having 10x less shares if they are worth 10x more, and PRY stays in business while the price of oil recovers. Am I missing something ?

[sellthefarm]

If all this meeting about is a share consolidation I'd be happier than a pig in a pile of its own mess!  However, I highly doubt they are planning a special meeting for that.  If the bank doesn't call the loan I'll be surprised.  Having something to vote on though is better than getting an announcement that they are in CCAA.  I guess we'll see when we get the