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by Stockwatch Business Reporter

The TSX Venture Exchange fell 15.64 points to 651.42 Friday, but it ended the week up a fraction (0.07 point). Arif Shivji's first capital pool shell, Predator Blockchain Capital Corp. (PRED: halted), has announced a qualifying transaction plan. The proposed QT is not a blockchain deal, perhaps to the relief of its shareholders, but an oil deal. The shell plans to acquire Highwood Oil Company Ltd., a junior oil producer in Alberta.

Predator Blockchain Capital will roll back 1 for 53, perhaps to the displeasure of its shareholders. This will leave it with 188,679 shares issued, and then it will issue 5,744,204 shares to Highwood Oil's shareholders. Highwood is being valued at $51.7-million.

Highwood produces about 1,200 barrels of oil a day, comprising light and medium oil, in the Red Earth area in Northern Alberta. It expects to bring more wells on-line soon. For comparison, Prairie Provident Resources Inc. (PPR: $0.315), a junior oil and gas producer in Alberta, owns Red Earth properties that are producing about 1,100 barrels of oil equivalent a day (comprising mostly light oil). Prairie Provident paid $40.9-million cash last year to acquire those Red Earth properties.

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