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PFLWF Petroflow Energy Ltd. Common Shares (Canada) 10/3/2011 100 Plan of Bankruptcy Effective. All shares have been cancelled. Deletion time: 11:57:53*
Any NEWS when Petroflow will list and when?
16.4 Million Settlement.
THis things going to kick in soon.
16.4 Million Settlement.
THis things going to kick in soon.
PETROFLOW ENERGY LTD. ANNOUNCES FILING UNDER UNITED STATES BANKRUPTCY CODE
PR Newswire
http://oilandgas.einnews.com/pr-news/150830-petroflow-energy-ltd-announces-filing-under-united-states-bankruptcy-code
(TSX Symbol - PEF; NYSE Amex Symbol - PED)
DENVER, CO, Aug. 20 /PRNewswire-FirstCall/ - On August 20, 2010, Petroflow Energy Ltd. ("Petroflow") filed a voluntary petition for relief (the "Chapter 11 Petition") under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Court"). Petroflow will seek recognition of the U.S. chapter 11 proceedings from the Alberta Court of Queen's Bench under the Companies' Creditors Arrangement Act in Canada, and will seek to have its chapter 11 case jointly administered with those of its two chapter 11 debtor affiliates under the caption "In re North American Petroleum Corporation USA, Case # 10-11707 (CSS)."
Additional information on the Chapter 11 Petition, including access to documents filed with the Court and other general information about the chapter 11 cases is available at http://dm.epiq11.com/napcus.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Petroflow Energy Ltd.
Copyright 2010 PR Newswire. All Rights Reserved
There is another court date scheduled for August 19'th at 10 Am.
This case is going to drag on for a long time.
PED may shift to Pink OTC.
I am getting a reading as PFLWF.
Delist from AMEX. - Now where?
Chapter 11.
On May 25, 2010, North American Petroleum Corporation USA and Prize Petroleum LLC (collectively, the "Debtors") filed petitions in the United States Bankruptcy Court for the District of Delaware seeking relief under chapter 11 of the United States Bankruptcy Code. A Judge has not yet been assigned. The Debtors are seeking to have their cases jointly administered for procedural purposes, meaning that upon entry of such an order all pleadings will be maintained on the case docket for North American Petroleum Corporation USA, Case No. 10-11707 (the "Main Case Docket"). The Main Case Docket can be accessed through the website maintained by the United States Bankruptcy Court for the District of Delaware http://www.doc.uscourts.gov. An unofficial version of the Main Case Docket is accessible by selecting the "Docket" link at the top of this page.
Lets see if they got their act together on the audit. One month and counting.
Hopefully PED will start to trade on the AMEX side this week.
Canadian tsx delisted as of this morning.
Oil is up and we need the US -AMEX back on board.
Lets get going!!
2 week halt. Somethings brewing.
Trade halt for over one week. How long to do an audit? Does the Canadian venture give a time line to PEF for getting up to speed?
Oil is reporting to touch $86.00/Barrel.
That is 6.00 up from where it was a week ago. That is $24,000./Day increase in Revenues.
I think it will shoot this week.
JV, Buyout or Investor.
What will it be?
I think this will happen before the '09 quarter is reported.
'09 3'rd qtr was showing higher revenue.
Wonder why this PR never showed up on IHUB ?
Petroflow Energy Ltd. announces management changes
Buzz up! 0 Print..Companies:Petroflow Energy Ltd.PETROFLOW ENERGY LTD.Related Quotes
Symbol Price Change
PED 0.34 +0.08
Press Release Source: Petroflow Energy Ltd. On Friday March 5, 2010, 10:20 am EST
(TSX Symbol - PEF; NYSE Amex Symbol - PED)
DENVER, CO, March 4 /PRNewswire-FirstCall/ - Petroflow Energy Ltd. ("Petroflow" or the "Company") today announced that it has given notice of termination as part of its continued G&A reduction plan, to Sandy Andrew, President & COO, Kevin Davis, SVP, Louis Schott, VP of land and In-house Counsel, and Sally Fletchinger, Corporate Controller, pursuant to their respective employment contracts. Their effective last day will be March 31, 2010. Each of the individuals has an employment agreement with the Company which provides for severance payments in the event the personnel are terminated in specified circumstances. The collective amount of these severance payments is approximately $1.7 million. Petroflow has sufficient personnel and outside contractor support to continue to run the Company. Petroflow continues to work with its creditors on improving its financial situation.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation as they involve our staffing ability to support the continued operation of the Company. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and factors that could cause actual results to differ materially from those anticipated by Petroflow and described in the forward-looking statements. These risks, uncertainties and factors include, but are not limited to, the difficulty in retaining key personnel to carry on the Company's oil and gas operations. Additional information on these and other factors, which could affect Petroflow's operations or financial results, are included in Petroflow's reports on file with Canadian and United States securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management's estimates or opinions change unless otherwise required under securities law.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
I feel there will be pre-market buys prior to Monday morning.
The uptrend seems to be solidly in place with the higher lows... everything looking suweeeeeeeeet!
Yes !
Petroflow Energy Ltd. announces management changes
Buzz up! 0 Print..Companies:Petroflow Energy Ltd.PETROFLOW ENERGY LTD.Related Quotes
Symbol Price Change
PED 0.34 +0.08
Press Release Source: Petroflow Energy Ltd. On Friday March 5, 2010, 10:20 am EST
(TSX Symbol - PEF; NYSE Amex Symbol - PED)
DENVER, CO, March 4 /PRNewswire-FirstCall/ - Petroflow Energy Ltd. ("Petroflow" or the "Company") today announced that it has given notice of termination as part of its continued G&A reduction plan, to Sandy Andrew, President & COO, Kevin Davis, SVP, Louis Schott, VP of land and In-house Counsel, and Sally Fletchinger, Corporate Controller, pursuant to their respective employment contracts. Their effective last day will be March 31, 2010. Each of the individuals has an employment agreement with the Company which provides for severance payments in the event the personnel are terminated in specified circumstances. The collective amount of these severance payments is approximately $1.7 million. Petroflow has sufficient personnel and outside contractor support to continue to run the Company. Petroflow continues to work with its creditors on improving its financial situation.
Ped has started its climb with confidence after the changes in senior mgmt.
Morning News:
Iran is budgeting for export oil price to be 2X what it is today for fiscal 2010.
Oil is on the rise. Ped should also rise based on a higher Revenue price.
Buy while it is still under 1.00. This should be an interesting year ahead.
Oil is going UP - China's need is on the rise.
Prices are going to creep up.
Ped's a goood buy in the .50 bracket.
Find the moon PED... find the moon!!!
We are off again MM!!! Near record volume, too!!!
What a way to ring in the new year!!!
Did you ever get back in???... $$$ now, huh???!!!
Hope tomorrow we brk above that .36 ..Made a good move today , can't bitch about a 36% move !!!!
Doubled up on my position of PED today~ Nice looking chart here :)
Petroflow Energy Ltd. announces sale of Texas Properties and amendment to Credit Agreement
Dec. 31, 2009 (PR Newswire) --
(TSX Symbol - PEF; NYSE Amex Symbol - PED)
CALGARY /PRNewswire-FirstCall/ - Petroflow Energy Ltd. ("Petroflow" or the "Company") is pleased to announce that it has sold its Permian Basin properties located in Texas (the "Texas Properties"). The Texas Properties consist of 3640 gross and net developed acres. Petroflow had a 100% working interest in 14 producing oil wells on the Texas Properties that produced about 65 BOEs (390 McfGEs) per day of production. The sale had an effective date of . Petroflow will use the gross cash proceeds of $US 3.3 million from the sale to reduce its outstanding indebtedness under its Amended and Restated Credit Agreement (the "Credit Agreement").
"The Texas Properties were substantially developed and it was an appropriate time to monetize this asset. With the completion of the sale, we will be able to further concentrate our capital and attention on the continuation of our successful operations in the Hunton dewatering resource play" stated Sandy Andrew, President and COO.
In connection with obtaining the necessary consent to such sale from the banks under the Credit Agreement and as a result of the occurrence of certain previously reported and continuing Events of Defaults under the Credit Agreement, the Company entered into an Amendment to its Credit Agreement (the "Amendment").
The Amendment requires that the gross proceeds (less certain expenses) from the sale of the Texas Properties be paid directly to the banks to be applied against the outstanding loan balance and permanently reduce the Company's borrowing base by such amount. Although the banks did not agree to waive any of the continuing Events of Defaults under the Credit Agreement, the banks elected to defer their right to raise the interest rates to the default rate and exercise certain remedies available to them under the Credit Agreement. The banks reserved their right to cease such deferrals with or without cause at any time without notice to the Company. The Amendment also requires that the Company provide additional security to the banks in the form of a pledge and first priority security interest in all of the capital stock of its subsidiaries.
Mr. Andrew added, "We are pleased we are able to take this first step to begin to deleverage the Company and we appreciate that our banks continue to work with us during this period of challenging commodity markets."
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation as they involve our Hunton operations, deleveraging efforts, and status of our banking relationships will impact favorably the Company's financial situation. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and factors that could cause actual results to differ materially from those anticipated by Petroflow and described in the forward-looking statements. These risks, uncertainties and factors include, but are not limited to, the potential adverse impact of continuing defaults under its Credit Agreement on the Company's liquidity or results of operations, the Company's ability to raise sufficient additional equity, the notion that the ongoing value of the Company's oil & gas reserves will continue to support the Company's outstanding indebtedness under its Credit Agreement, other adverse general economic conditions that may negatively impact the Company and its ability to maintain as well as repay borrowings, operating hazards, drilling risks, inherent uncertainties in interpreting and applying engineering data, geologic data, and accumulated operating and production knowledge, technology change and failure, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and US dollars and other currencies, as well as other risks commonly associated with the exploration and development of oil and gas properties. Additional information on these and other factors, which could affect Petroflow's operations or financial results, are included in Petroflow's reports on file with Canadian securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management's estimates or opinions change unless otherwise required under securities law.
Note: Boe means barrel of oil equivalent on the basis of 1 boe to 6,000 cubic feet of natural gas. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 1 boe for 6,000 cubic feet of natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Boe/d means barrel of oil equivalent per day. In this press release: (i) mcf means thousand cubic feet; (ii) mcf/d means thousand cubic feet per day (iii) bbls means barrels (iv) bbls/d means barrels per day
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Petroflow Energy Ltd.
Source: PR Newswire (December 31, 2009 - 3:50 PM EST)
News by QuoteMedia
It will, more are looking at it now , being up 25% or better and the chart shows it has more to go !
PED yes would like to see more out of it
Percent Gainers More
Sym Name Last Chg Chg% Volume
1 PED Petroflow Enery 0.29 0.04 16.09 333,012
2 PMU Pacific Rim Mining 0.20 0.03 15.73 45,018
3 SSY Sunlink Health Sys 2.10 0.26 14.13 8,200
4 WZE Wizzard Software 0.34 0.04 13.30 34,000
5 GRH Greenhunter Energy 1.30 0.15 13.22 73,554
6 PKT Procera Networks 0.49 0.05 11.34 180,507
7 LEI Lucas Energy 0.67 0.07 11.28 19,400
8 GIA Gulfstream Intl Gp 1.50 0.15 11.11 100
9 BMJ Birks & Mayors 1.23 0.12 10.80 1,000
10 MHJ Man Sang Intl (bvi) 2.54 0.24 10.22 14,364
11 HNB Herald Natl Bank 3.75 0.33 9.65 4,900
12 AZC Augusta Resource Cp 2.64 0.22 9.07 758,349
13 TGC Tengasco 0.49 0.04 8.89 234,144
14 VHC Virnetx Holding Corp 3.20 0.26 8.85 121,550
15 INUV Inuvo, 0.37 0.03 8.82 120,462
Percent Losers More
Sym Name Last Chg Chg% Volume
1 ANX Adventrx Pharmactl 0.30 -0.05 -14.26 50,387,279
2 GBR New Concept Energy 4.43 -0.72 -13.98 1,700
3 KUN China Shenghuo Pharm 0.70 -0.08 -10.24 17,700
4 PTN Palatin Tech 0.33 -0.04 -9.82 170,862
5 FOH Fredericks Hollywd 1.41 -0.15 -9.62 26,650
6 ULU Uluru 0.20 -0.02 -9.09 942,010
7 SNT Senesco Tech 0.30 -0.03 -9.09 285,852
8 ISR Isoray 0.81 -0.08 -8.98 14,700
9 XFN Xfone 0.64 -0.06 -8.57 3,000
10 CNGL China Nutrifruit Grp 3.90 -0.36 -8.46 34,596
11 PIP Pharmathene, 1.80 -0.16 -8.15 381,290
12 KAD Arcadia Resources 0.46 -0.04 -7.42 62,269
13 EAG American Defense Sys 0.37 -0.03 -7.38 19,607
14 DNE Dune Energy 0.21 -0.02 -6.67 177,749
15 FIT Health Fitness Corp 7.25 -0.44 -5.72 134,910
Gainers More
Time for it to run!
Yes , sweet isn't it !
PED now look at that chart !! LOL
The Halt for News -http://www.nasdaqtrader.com/Trader.aspx?id=TradingHaltSearch# And the codes http://www.nasdaqtrader.com/Trader.aspx?id=TradeHaltCodes
Ok now I understand , Was halted because of the news !
Do not see what you are talking about !
Trading Halted at 2:10 last trade.249.Then the news release Yes!
Whats up with the H at the end of PED
PED News
Petroflow Energy Ltd. announces sale of Texas Properties and amendment to Credit Agreement
Last update: 12/31/2009 3:50:00 PM
CALGARY, Dec 31, 2009 /PRNewswire-FirstCall via COMTEX/ -- (TSX Symbol - PEF; NYSE Amex Symbol - PED)
Petroflow Energy Ltd. ("Petroflow" or the "Company") is pleased to announce that it has sold its Permian Basin properties located in Texas (the "Texas Properties"). The Texas Properties consist of 3640 gross and net developed acres. Petroflow had a 100% working interest in 14 producing oil wells on the Texas Properties that produced about 65 BOEs (390 McfGEs) per day of production. The sale had an effective date of December 1, 2009. Petroflow will use the gross cash proceeds of $US 3.3 million from the sale to reduce its outstanding indebtedness under its Amended and Restated Credit Agreement (the "Credit Agreement").
"The Texas Properties were substantially developed and it was an appropriate time to monetize this asset. With the completion of the sale, we will be able to further concentrate our capital and attention on the continuation of our successful operations in the Hunton dewatering resource play" stated Sandy Andrew, President and COO.
In connection with obtaining the necessary consent to such sale from the banks under the Credit Agreement and as a result of the occurrence of certain previously reported and continuing Events of Defaults under the Credit Agreement, the Company entered into an Amendment to its Credit Agreement (the "Amendment").
The Amendment requires that the gross proceeds (less certain expenses) from the sale of the Texas Properties be paid directly to the banks to be applied against the outstanding loan balance and permanently reduce the Company's borrowing base by such amount. Although the banks did not agree to waive any of the continuing Events of Defaults under the Credit Agreement, the banks elected to defer their right to raise the interest rates to the default rate and exercise certain remedies available to them under the Credit Agreement. The banks reserved their right to cease such deferrals with or without cause at any time without notice to the Company. The Amendment also requires that the Company provide additional security to the banks in the form of a pledge and first priority security interest in all of the capital stock of its subsidiaries.
Mr. Andrew added, "We are pleased we are able to take this first step to begin to deleverage the Company and we appreciate that our banks continue to work with us during this period of challenging commodity markets."
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation as they involve our Hunton operations, deleveraging efforts, and status of our banking relationships will impact favorably the Company's financial situation. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and factors that could cause actual results to differ materially from those anticipated by Petroflow and described in the forward-looking statements. These risks, uncertainties and factors include, but are not limited to, the potential adverse impact of continuing defaults under its Credit Agreement on the Company's liquidity or results of operations, the Company's ability to raise sufficient additional equity, the notion that the ongoing value of the Company's oil & gas reserves will continue to support the Company's outstanding indebtedness under its Credit Agreement, other adverse general economic conditions that may negatively impact the Company and its ability to maintain as well as repay borrowings, operating hazards, drilling risks, inherent uncertainties in interpreting and applying engineering data, geologic data, and accumulated operating and production knowledge, technology change and failure, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and US dollars and other currencies, as well as other risks commonly associated with the exploration and development of oil and gas properties. Additional information on these and other factors, which could affect Petroflow's operations or financial results, are included in Petroflow's reports on file with Canadian securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management's estimates or opinions change unless otherwise required under securities law.
Note: Boe means barrel of oil equivalent on the basis of 1 boe to 6,000 cubic feet of natural gas. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 1 boe for 6,000 cubic feet of natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Boe/d means barrel of oil equivalent per day. In this press release: (i) mcf means thousand cubic feet; (ii) mcf/d means thousand cubic feet per day (iii) bbls means barrels (iv) bbls/d means barrels per day
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. SOURCE Petroflow Energy Ltd.
Copyright (C) 2009 PR Newswire. All rights reserved
Out at .25 for a decent gain..
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Petroflow Energy Corporation is an independent exploration & production company listed on both the TSX (PEF) and the AMEX (PED). Petroflow predominately engages in unconventional drilling in the Hunton Resource Play in Oklahoma, as well as conventional activity in Texas and Alberta, ON. Petroflow's daily production in this Resource Play makes it the most active producer and the only publicly held company in this unique Play. The company has used a combination of focused and experienced leadership and unique Bubble Point Technology to achieve a near 100% success rate in their drilling activities.
Since entering the Farmout to develop this play in April of 2006, we have spud 70 total Hunton Resource Play producers; with 63 currently on production, 4 salt water disposal wells and 2 wells currently off production within the Area of Mutual Interest or AMI as well as 2 wells (one producer and one salt water disposal well) outside of the AMI.
Create tangible value for stakeholders through the responsible acquisition, development and enhancement of critical hydrocarbon resources in North America.
Natural gas and oil are hydrocarbons, organic compounds consisting in a majority of carbon and hydrogen atoms. When converted, they are the basis of products that we use in everyday life. The responsible development of these hydrocarbons is vital to our planet.
Build and retain a professional team with a common belief system and an effective skill set for creating value in the oil and gas business.
Provide an exceptional investment opportunity through solid and efficient use of capital and a financial structure that permits the flexibility to achieve maximum shareholder value.
Maintain a consistent growth strategy through accretive acquisitions and high rate of return development projects.
Advance our goals with integrity, with a keen focus on safety and environmental stewardship and with an emphasis on optimizing the recovery and value of the resources we harvest.
Create and maintain a working environment for the employees to promote creativity, optimism, productivity and personal growth.
Corporate Info Including Directors/Management | Operations Including Locations/Technology | |
http://www.petroflowenergy.com/company.aspx | http://www.petroflowenergy.com/operations.aspx |
Investors Info Including Filings/Financial Reports | News & Press Releases Including Presentations | |
http://www.petroflowenergy.com/investor.aspx | http://www.petroflowenergy.com/news.aspx |
Petroflow Energy Contacts | Email: info@petroflowenergy.com | |||||||
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Investor Relations | | |
In the U.S. Kevin Davis 1401 17th Street, Suite 310 Denver, Colorado 80202 USA Phone: (303) 296-7070 Fax: (303) 296-7073 | In Canada |
Common shares | ||||||||||||||||||||||||
Common shares outstanding,end of period | 29,549,894 | 29,567,394 | (0.1 | %) | 29,549,894 | 29,567,394 | (0.1 | %) | ||||||||||||||||
Weighted average basic shares outstanding | 29,510,329 | 29,430,383 | 0.27 | % | 29,530,597 | 29,342,529 | 0.64 | % |
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