Nevarro Energy TSX: NEL $9 Million Cash Flow , 1.300 boepd für $ 23 Mio Market Cap - 500 Beiträge pro Seite

[Maigret]

Das wichtigste:
- current production is over 1,100 boepd (90% heavy oil)
- more than 100 exploratory and development drilling locations identified
- estimated cash flow of approximately $9.0 million or $0.85 per share based on average 2006 production of 1,300 boepd
- 2006 exit target of at least 2,000 boepd
- trading at a severe discount to net asset value
- high likelihood of takeover opportunity


Analyse:

http://www.qiscapital.com/showpage.php?article_id=224


schöne Insiderkäufe:

Apr 15/06 Apr 12/06 Mitchell, Bruce 10 - Acquisition in the public market Common Shares 210,400 $2.200
Mar 31/06 Mar 31/06 Mitchell, Bruce 10 - Acquisition in the public market Common Shares 24,000 $2.110
Mar 25/06 Mar 24/06 Mitchell, Bruce 10 - Acquisition in the public market Common Shares 16,100 $2.020
Mar 03/06 Mar 03/06 Mitchell, Bruce 10 - Acquisition in the public market Common Shares 3,700 $1.900
Mar 02/06 Mar 01/06 Mitchell, Bruce 10 - Acquisition in the public market Common Shares 216,900 $1.900
Feb 24/06 Feb 24/06 Mitchell, Bruce 10 - Acquisition in the public market Common Shares 2,000 $2.010
Feb 20/06 Feb 20/06 Mitchell, Bruce 10 - Acquisition in the public market Common Shares 118,400 $2.000
Feb 17/06 Feb 16/06 Norrep II Class of Norrep Opportunities Corp. 10 - Disposition in the public market Common Shares -14,400 $2.200
Feb 17/06 Feb 13/06 MacLeod, Roger Owen 51 - Exercise of options Common Shares 6,668 $0.700
Feb 17/06 Feb 13/06 MacLeod, Roger Owen 51 - Exercise of options Options -6,668 $0.700


Homepage ist noch ein bischen dürftig:
http://www.nevarroenergy.com/

Wenn Sie Ihre Förderziele erreichen sind in 2006 noch gut 100% drinne....

[Maigret]

Friendly Takeover
Die Konditionen auf den ersten Blick - Sahne


Pearl Exploration arranges to buy Nevarro Energy


2006-06-28 08:48 ET - News Release

See News Release (C-PXX) Pearl Exploration and Production Ltd


Mr. Gary Guidry of Pearl Exploration reports

PEARL EXPLORATION AND PRODUCTION LTD. TO ACQUIRE NEVARRO ENERGY LTD.

Pearl Exploration and Production Ltd. and Nevarro Energy Ltd. have entered into a letter agreement dated June 27, 2006, by which Pearl has agreed to acquire all of the issued and outstanding shares of Nevarro, a junior oil and gas company focused on exploration in Western Canada. The proposed transaction has the unanimous support of the boards of directors of Pearl and Nevarro.

Pursuant to the letter agreement, Pearl will acquire all of the issued and outstanding shares of Nevarro in consideration for a combination of cash, common shares of Pearl and shares of a new joint venture exploration company (Exploreco). Specifically, a Nevarro shareholder will receive, for each Nevarro share held on the date the transaction is completed, $1.875 cash, 0.125 of a Pearl share and 0.5 of an Exploreco share.

As a result of this:


Nevarro will become a wholly owned subsidiary of Pearl; and
the shareholders of Nevarro will become shareholders of Pearl and of Exploreco. The total consideration for the purchase is approximately $38.3-million (which includes the assumption of bank debt of $6.4-million).

For the three months ended March 31, 2006, Nevarro's production averaged approximately 1,024 barrels of oil equivalent per day with reserves estimated to be 3,390 thousand barrels of oil equivalent on a proved plus probable basis. Current production is 1,030 barrels of oil equivalent per day. The reserves noted are based on an independent reserve evaluation prepared by independent reservoir engineers, DeGolyer and McNaughton Canada Ltd. as at Dec. 31, 2005. These reserve estimates have been prepared using definitions as set out under National Instrument 51-101.

The total consideration, including debt, represents approximately $37,200 of barrels of oil equivalent per day, or $11.30 per barrel of oil equivalent proved plus probable reserves. Excluding value attributed for processing facilities fees, the respective metrics are $29,650 of barrels of oil equivalent per day and $9.00 per barrel of oil equivalent proved plus probable reserves.

Shareholders of Nevarro, including all directors and officers, representing approximately 30 per cent of the shares, have entered into lock-up agreements to tender their shares to the offer. The letter agreement also provides for a break fee, which is payable under certain circumstances, if the transaction is not completed.

"The acquisition of Nevarro is consistent with Pearl's strategic focus and will result in a substantial addition to our asset base in Western Canada with more than 100 drilling locations. The assets being acquired are primarily located adjacent to our core property in the Onion Lake area, further solidifying our presence in that area," said Gary Guidry, president and chief executive officer of Pearl. "In addition to the identified development opportunities, value will be obtained through further organic growth in the area."

Pearl will participate in the capitalization of Exploreco by providing $3-million to finance a 36-per-cent ownership interest. Current Nevarro shareholders will be entitled to subscribe for up to 2,666,667 shares, on a pro rata basis, of Exploreco, either as flow-through shares, at a price of 62.5 cents per flow-through share, or as non-flow-through shares, at a price of 50 cents per share. Exploreco will be staffed with existing management of Nevarro. In addition to equity participation in low-risk exploration and exploitation, Pearl will also obtain the right to participate in up to a 50-per-cent non-promoted working interest on any new prospects and an option to acquire the remaining 50-per-cent interest in those prospects. This long-term relationship provides a growth vehicle in a core area for Pearl.

The transaction is subject to regulatory approval and the approval by Nevarro shareholders.

Asset highlights

Aberfeldy and Dulwich area, Saskatchewan

Nevarro currently holds a 69.3-per-cent average working interest in approximately 1,500 acres of land in the Aberfeldy and Dulwich area of Saskatchewan. Nevarro operates 14 wells in this area and produces both heavy oil and natural gas. The Dulwich area also includes Nevarro's salt water disposal and oil skimming facility. As at March 31, 2006, production was approximately 390 barrels of oil equivalent per day (net).

Lashburn and Marshall area, Saskatchewan

Nevarro has an interest in 49 (gross) wells in this area, of which 31 are producing wells operated by Nevarro. As at March 31, 2006, production net to Nevarro was approximately 686 barrels of oil equivalent per day.

Mulligan area, Alberta

Nevarro has an approximate 31-per-cent average working interest in over 6,000 acres in the Mulligan area of Alberta. This is a multizone area with the production of natural gas from the Gething formation and oil production from the Charlie Lake formation. Production is approximately 196,000 cubic feet (net) from five wells.

Nevarro also has seven wells that have been drilled and are waiting to be completed. This consists of four gas wells and three oil wells.

GMP Securities LP acted as advisers to Pearl and Acumen Capital Finance Partners Ltd. acted as advisers to Nevarro.

All references in this release to barrels of oil equivalent are based on a six-to-one conversion ratio. Barrels of oil equivalent may be misleading, particularly if used in isolation. A barrel of oil equivalent conversion of 6,000 cubic feet to one barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

We seek Safe Harbor.

[doppelauspuff]

Antwort auf Beitrag Nr.: 22.319.784 von Maigret am 28.06.06 16:52:14

Dürftig .... ich würde mal sagen, die Homepage ist ein Witz.

Wo hast du die Information her? Alle aus Unternehmensnachrichten?

[Maigret]

Antwort auf Beitrag Nr.: 22.365.471 von doppelauspuff am 30.06.06 19:15:03

@doppelauspuff.
Yeah, sedar, die QIS-Studie und Stockhouse.

Bin zu 2,50 wieder raus und rein in Long View Resources (Thread-Nr: 1070165).

Schade wenn der Takeover nicht gekommen wäre, wäre auf Sicht der nächsten Monate mehr drin gewesen als 30% (aber angesichts des derzeitigen Umfeldes muss man auch damit mal zufrieden sein...).