Post by
Suppe11 on Mar 27, 2024 8:33pm
Ahead of itself....
Imho market is running a bit ahead of itself. It was a one-timer quarter, where they sold inventory -> sold 3k bpd more, than produced and they had a non-cash bargain purchase of $30m in Q4...
Regarding their cash position...they'll have to pay the 2023 taxes in May (->$70m+).
The good news is of course the lower Aros....
While their first half March production of 23k bpd looks good, the company concealed, that the February average was 21050 bpd, 1350 bpd lower, than January. I guess the March numbers included inflated early <IP30 numbers of 1-2 new wells.
Comment by
wajac on Mar 28, 2024 9:32am
Maybe yes, maybe no. Current bid/ask is 4.99, but the premarket can't be trusted. VLE is up 20% monthly and 70% over the past 3 months. Looks good.
Comment by
Bigpond on Mar 28, 2024 9:45am
Seems like there's a brick wall at $5.00. Let's see if it fights today on last day of month/ quarter or gives up. Trading volume is the key. GLTA