TELL- Effective Date of Transaction for Nat Gas assets from Ensight

TELL will begin the process of closing on the Nat Has producing assets on August 1st. As of July 14, the only hint on the “Closing Date” is “In the 3rd quarter, 2022, which ends September 30, 2022. It is expected that it will close before that date, due to the not-present, yet common language “closing by the final day of the X quarter,” which we have seen in deals like this before.

They will have more 8ks to file before they close, so we will update this when those are filed, and update the Closing Date on the calendar if we get a more specific range or date.

Previous catalyst similar to this, like VTNR closing on the Shell refinery, yielded more volatility gaps in the early stages of the proceedings, but even the closing date was a great short term trade, and runup trade.

https://www.sec.gov/Archives/edgar/data/0000061398/000110465922079385/tm2220884d1_ex99-1.htm