PEDEVCO going for whole enchilada....
READ THIS EXCERPT FROM Bloomberg Article; RE: PED Interest in Avalon::
In addition, the Company (PEDEVCO) is aware that Montare Resources I, LLC ("Montare") announced today that it has entered into an agreement with Avalon and its affiliates (a holder of 25% of the issued and outstanding Trust Units and the operator of the assets underlying the Trust) regarding Avalon's ownership of its Trust Units, 100% of the working interests underlying the overriding royalty interests owned by the Trust, and all other related assets used in connection with operating the underlying properties related thereto. As stated in the public announcement, "Avalon Energy has agreed, subject to the satisfaction of certain conditions, to contribute all of its Units and its other Trust related assets to Montare and has granted Montare an irrevocable proxy to vote its Units. Avalon has also granted exclusivity to Montare with respect to any transaction involving Avalon and/or the Trust, and has agreed to support Montare's acquisition of the Trust (either by merger, acquisition of assets, acquisition of the remaining Units not owned by Avalon or otherwise) and not to take any action that is detrimental to or hinders Montare's ability to consummate an acquisition of the Trust."
Given this new information regarding Avalon and its exclusive arrangement with Montare, the Company (PEDEVCO) plans to attempt to engage in direct discussions with both Avalon and Montare regarding the Company's prior indication of interest relating to the potential acquisition of all the Trust Units, its underlying assets, and operatorship thereof.
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1). PED was wanting to acquire Avalon as they were being delisted from exchange. PED has NO DEBT, lots of financial backing behind it today, fully profitable operations and revenues, etc..
2). Since Avalon had 1st right of refusal so to speak already in place with Montares for part/all assets, PED going to move now to acquire all of Montare/Avalon assets.
3). Monday this past week I doubled my position in PED before hint of any of this hit the wires Thursday.
4). Penny flipping daytraders will ONLY be forced to buy higher priced shares from here, unless SEC or that Trump Executive order I was told about goes into effect against shortselling of US companies listed equities firstly...
5). Hope you all know Chevron (CVX) already stated two weeks ago to resurging usage of long owned Permian Basin Assets and knows about all the players who own any Permian Basin assets like PED, etc... Think what "may" come to fruition down the road here for invested stockholders...
