RE:RE:RE:Conversation with the CFO<<it's too bad that VLE has spent so much on a shockingly bad shallow well program>>
They should just admit that the shallow program is uneconomic for VLE, shut it down and let it go into runoff and generate some cash.
VLE is now an all or nothing bet on the deep and they need all the cash they can get their hands on right now if they are going to drill a 3rd deep well with STO at 50:50 split of costs. It sounds like they are contemplating more than second well and we do not want any dilution for that.
Even better than letting the shallow program go into runoff would be to sell it to a local for $15 million cash +/-
also, it sounds like the gas might really be there in the deep so the shallow is now irrelevant and a huge distraction not only for managment but for the present shareholders but also the potential shareholder base.