Pinnacle Gas Resources (MM) (PINN) News

OOOPs nobody here.

Well you guys getting .34 per share nice. should have driven the price down (:>)

Acquisition of Pinnacle Gas Resources, Inc. Completed
Date : 01/25/2011 @ 7:17PM
Source : PR Newswire
Stock : Pinnacle Gas Res. (PINN)
Quote : 0.2901 -0.0099 (-3.30%) @ 4:23PM


Acquisition of Pinnacle Gas Resources, Inc. Completed

Pinnacle Gas Res. (USOTC:PINN)
Intraday Stock Chart
Today : Tuesday 25 January 2011
Pinnacle Gas Resources, Inc. (OTCQB: PINN) announced today that it has been acquired by Powder Holdings, LLC, an entity controlled by SW Energy Capital LP. Under the terms of the merger agreement, Pinnacle stockholders are entitled to receive $0.34 per share in cash for each share of Pinnacle common stock that they hold. Letters of transmittal allowing Pinnacle stockholders of record to deliver their shares to the paying agent in exchange for payment of the merger consideration will be distributed shortly after the closing. Stockholders of record should be in receipt of the letter of transmittal before surrendering their shares. The acquisition was approved by the company's stockholders in August 2010.

Scotia Waterous acted as financial advisor to SW Energy Capital LP, and Vinson & Elkins LLP acted as SW Energy Capital's legal advisor.

About Pinnacle

Pinnacle Gas Resources, Inc. is an independent energy company engaged in the acquisition, exploration and development of domestic onshore natural gas reserves. It focuses on the development of coalbed methane (CBM) properties located in the Rocky Mountain region. Pinnacle holds CBM acreage in the Powder River Basin in northeastern Wyoming and southern Montana as well as in the Green River Basin in southern Wyoming. Pinnacle Gas Resources was founded in 2003 and is headquartered in Sheridan, Wyoming.

About SW Energy Capital LP

SW Energy Capital LP is an independent energy private equity fund formed in January 2011 with commitments from Scotia Waterous (USA) Inc. and other investors. The Fund has four existing portfolio companies. The Fund is targeting investments principally in small private upstream oil & gas companies with equity commitments ranging from $10 to $50 million. Scotia Waterous, which will assist the Fund in its investment process, is the oil and gas investment banking division of The Bank of Nova Scotia, with offices in Beijing, Buenos Aires, Calgary, Denver, Houston, London and Singapore. Scotia Waterous is distinguished by its in-depth knowledge of the oil and gas sector and comprehensive technical understanding of oil and gas assets on a worldwide basis.

Safe Harbor

This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). All statements other than statements of historical facts included in this news release, including any relating to Pinnacle's financial position, business strategy, plans and objectives of management for future operations, industry conditions, and indebtedness covenant compliance are forward-looking statements. When used in this report, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "could," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following, general economic or industry conditions, nationally and/or in the areas in which we conduct our business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our ability to raise capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our operations, products, services and prices.

SOURCE Pinnacle Gas Resources, Inc.

So my take on it is correct?

Better off selling now, don't want to wait to get .34, never know what might happen...

Hey, i don't know if you seen the news here this a.m. but was wondering if you might have a better grip of what this means for any shareholders if and when this buyout takes place.

My take is if this buyout takes place, it is going to be taken private. Does this mean if you are a shareholder at the time of the buyout you will be paid .34 a share??

Just keep an eye on nat gas...

Any new word out on this stock??

Nat gas stocks have all been up over the last few days...

Lots of buying on heavy volume the past few days. No news so I wonder whats going on. Could it be the start of something?

Nice volume today. PINN is way over sold and due for a nice rebound.

Looks like a good time to keep loading up while the price is at only .30 a share!

May be ready for a bounce now. Just added a few shares yesterday. Anything at .30 is way to cheap.

Pinnacle seems like a good long term hold. When gas price come back up next year Pinnacle should be positioned to take advange of that.

GLTA..Holding here on this one!!!

Right on Mach1 GG and nice ta see ya here!)Fingers crossed that we have a dollarland mover in our midst!))

Found my way into this one this morning. Hoping for a nice payday!!

gettin some real nice buys now wow..screenshot>>

yep... some volume based signals hit the radar already...

lets see what today brings..fingers crossed fer complete breakout!!)

lol, would like that :) GL!

gosh... I loaded some in the morning gap-close around .19/.20 :) let's see what happens...

.22!)Lets keep this thing movin til dollarland!))

waow... huge volume! starting an up-trend?

.169 close will take it!)Lets see what next week brings!)

.20 hit!! where is everyone?! this may get good here!!

thanks man hope this is jus the start to the dollarland journey!))

Very nice... I didn't pull the BUY trigger in time myself. Good luck with it.

Rhino

dar she blows!! .18s!!!

.1699 HOD! 15 times average 10day vol already!

Wakin bro!!!wow .155 breaks .20 top comes off whenever it haps imo

agreed..lets see what haps in the coming sessions here.)may jus be good timin on our parts im hopin.))

Been watching and wondering the same thing. This should start moving pretty soon with Oil over $50, and NG climbing, too.

Can this one bounce too? .14 lets see what haps!)eom

Can anybody give a good reason why oil is moving up and gas prices are staying the same?!?! Also I was doing my research on Pinn and I couldn't find anything mentioned about condensate and how much is produced, just curious I guess. Looking forward to the 10-K!!!

Camronmon

Keeping this on my watch.

Boy, you gotta believe we're near a bottom for Natural Gas. I can't believe how much it has dropped lately!

Rhino

Same here, have you looked at a one year chart of Natgas.

http://stockcharts.com/h-sc/ui?s=$NATGAS&p=D&yr=1&mn=0&dy=0&id=p70094487073&a=93150412


blt

I sold a while ago, too. I'm looking to re-enter possibly.

Rhino

Can't find any reason. I bailed ten days ago when PINN lost momentum. Last news was 23rd.

Be watching it.

blt

Any idea why the big drop today?

Rhino

Breakout...now we need to hold the 20 day SMA (dotted line)
Close above that would be very nice.

http://stockcharts.com/h-sc/ui?s=PINN&p=D&yr=0&mn=3&dy=0&id=p04905088998&a=157456004

blt

Form 4

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6327591

Looks good...

blt

At least they are seeling on the ask! Althought the effect is still a declining pps.

definitely somebody is selling "on large" through arca

I sold yesterday at .29 for a very small gain as I got sppoked and the charts started heading against me. I hope it can turn around.

now at 27

this selling should be over soon

They moved down to .29 now.

she/he is been doing that for several days now, either she is naked shorting or just somebody selling!!