RE: Closing I suspect things are going pretty well for VRO. They dont have any of their NG hedged, so any increase in commodity price will help some, even though at 2.50, there is little incremental cash flow. One thing I dont like is the tardiness of reporting. They should have reported 1st quarter by now. Things have to be less complicated with their much smaller size and structure so whats the excuse?. Addtitionally, I have not received a report/proxy for the 5/28 meeting. Have you?
I am anxious to see how much of their capital was spent in Q1. That will be an indication of whether or not these guys have learned to restrain their propensity to overshoot their budget. Something they have vowed not to do with the new Vero.