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VIRGINIA HILLS OIL CORP VFGGF

Energy Oil & Gas E&P
"Virginia Hills Oil Corp, formerly Pinecrest Energy Inc was incorporated under the ABCA on March 24, 2006 under the name Testudo Oil & Gas Exploration Ltd. The Company is a Calgary, Alberta-based oil and natural gas exploration, production and development company with operations in the Canadian provinces of Alberta and Saskatchewan."


GREY:VFGGF - Post by User

VIRGINIA HILLS OIL CORP
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Comment by 4funon Feb 08, 2013 12:06am
272 Views
Post# 20956083

RE: Exit Production closer to 7,400 b/d est

RE: Exit Production closer to 7,400 b/d est

You are right! I was told by senior mangement two months ago that year end production would come in at around 5,000 bbls/d and production next year (2013) would come in around 7,000. This is why the share price has dropped so much. Also the company is broke and living on debt. However, the good news is that you are right! The company has set a very low target to beat. Cash flow will probably be around $160 m and debt about $112 m. With cash flow exceeding capex requirements debt will drop in the future as the company expands.

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