Arete Industries Inc (ARET)

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Ticker: ARET

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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BURLINGAME ASSET MANAGEMENT, LLC

2 sales — total 277,400 USD

Sale 31 Jan 2014

Value US$376,635.33 | Price 189.54 | Shares 91,841

Sale 31 Jan 2014

Value US$1,212,560.88 | Price 59.21 | Shares 16,934

Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	B/S Transaction type	Insider and/or position	Nb. shares Price Value	Number of shares	Price	Value	Details
2014-02-07	2014-01-31	S Sale	BURLINGAME ASSET MANAGEMENT, LLC Large shareholder	91,841 -29.4% 189.54 US$376,635	91,841 -29.4%	189.54	US$376,635
2014-02-07	2014-01-31	S Sale	BURLINGAME ASSET MANAGEMENT, LLC Large shareholder	16,934 +30.1% 59.21 US$1,212,561	16,934 +30.1%	59.21	US$1,212,561

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