I never imagined I’d be sharing a press release from Orlando Alvarado on my blog. At one time, Orlando Alvarado served as the CFO of Derwick Associates, as referenced in a lawsuit filed by that company in 2012. Alek Boyd claims he verified that one of these companies has a chairman who is an owner of Derwick Associates. So, everything appears quite Derwicky, although there’s still limited documentation to support this.
I really don’t know what to say about all this. It’s all rather puzzling. Feel free to share your theories and speculations in the comments or send them my way through my inbox.
O’HARA ADMINISTRATION CO., S.A. ANNOUNCES FILING OF EARLY WARNING REPORT RELATING TO PACIFIC RUBIALES ENERGY CORP.
PUNTA PACIFICA, PANAMA, May 7, 2015 – O’Hara Administration Co., S.A. (“O’Hara”) has announced that it has filed an Early Warning Report following the requirements of National Instrument 62-103 regarding its beneficial ownership of common shares (the “Common Shares”) of Pacific Rubiales Energy Corp. (the “Company”).
On May 5, 2015, Agency Partner Corp., which may be acting jointly or in concert with O’Hara, acquired beneficial ownership of 770,000 Common Shares at a price of $4.93 per Common Share. This acquisition represents approximately 0.24% of the issued and outstanding Common Shares. Right after the acquisition, O’Hara, along with its affiliates, who may also be considered to be acting jointly or in concert with O’Hara, held beneficial ownership of 38,150,200 Common Shares, equating to about 12.07% of the issued and outstanding Common Shares.
On May 6, 2015, Agency Partner Corp., who may be working together with O’Hara, obtained beneficial ownership of 6,000,000 Common Shares at a price of $6.25 per Common Share, representing roughly 1.90% of the issued and outstanding Common Shares. Following this acquisition, O’Hara, including its affiliates acting in concert with O’Hara, held beneficial ownership of 46,650,200 Common Shares, or approximately 14.76% of the issued and outstanding Common Shares.
On May 7, 2015, IPC Investment Corp., working jointly or in concert with O’Hara, acquired beneficial ownership of 1,000,000 Common Shares at a price of $6.21 per Common Share, representing about 0.32% of the issued and outstanding Common Shares. Immediately after this acquisition, O’Hara, together with its affiliates, held beneficial ownership of 51,110,900 Common Shares, accounting for approximately 16.17% of the issued and outstanding Common Shares.
Also on May 7, 2015, Adar Macro Fund, collaborating with O’Hara, gained beneficial ownership of 9,000,000 Common Shares at a price of $6.29 per Common Share, representing roughly 2.85% of the issued and outstanding Common Shares. Following this acquisition, O’Hara, along with its affiliates, held beneficial ownership of 60,110,900 Common Shares, which is about 19.02% of the issued and outstanding Common Shares.
O’Hara now holds beneficial ownership of 4,000,000 Common Shares, which is around 1.27% of the issued and outstanding Common Shares. IPC Investments Corp., an affiliate of O’Hara acting jointly or in concert with O’Hara, also has beneficial ownership of 4,001,000 Common Shares, representing 1.27% of the issued and outstanding Common Shares. Telmaven Overseas Inc., another affiliate of O’Hara, holds beneficial ownership of 29,535,900 Common Shares, equating to 9.34%. Volbor Trading Ltd., yet another affiliate of O’Hara, owns 4,960,000 Common Shares, which represents 1.57% of the issued and outstanding Common Shares. Likewise, Memphis Investment Limited, an affiliate of O’Hara, has 230,000 Common Shares, about 0.07%. Agency Partner Corp., another affiliate of O’Hara, holds beneficial ownership of 8,350,000 Common Shares, or 2.64%. Orlando Alvarado, as well, now has 37,000 Common Shares, which represents 0.01%, and Fundación Nemone, another affiliate, holds 24,000 Common Shares, also representing 0.01%. Lastly, Adar Macro Fund retains beneficial ownership of 9,000,000 Common Shares, equaling 2.85% of the issued and outstanding Common Shares.
In total, O’Hara, IPC Investments Corp., Telmaven Overseas Inc., Volbor Trading Ltd., Memphis Investment Limited, Agency Partner Corp., Orlando Alvarado, Fundación Nemone, and Adar Macro Fund own 60,137,900 Common Shares, representing approximately 19.03% of all issued and outstanding Common Shares.
O’Hara and its affiliates, including IPC Investments Corp., Telmaven Overseas Inc., Volbor Trading Ltd., Memphis Investment Limited, Agency Partner Corp., Orlando Alvarado, Fundación Nemone, and Adar Macro Fund, acquired these Common Shares solely for investment purposes and not with any intention of exerting control or direction over the Company. Each entity will periodically review its holdings and may continue to buy and/or sell additional securities of the Company based on market conditions and other relevant factors.
An Early Warning Report detailing these acquisitions of Common Shares has been filed and is available on SEDAR at http://www.sedar.com.
FOR FURTHER INFORMATION, PLEASE CONTACT: Orlando J. Alvarado O’Hara Administration Co., S.A.