VIRGINIA HILLS OIL CORP VFGGF

Corporate Presentation

[lamajbl]

How long has the corporate presentation been under construction?

[Iching64]

the presentation has been under construction for a long time -  I think since December. Who knows what is happening ? Maybe waiting for the waterfloods to stabilize, or some good news production numbers. I think this silence is not  good, and this bullboard has lost  most of the serious investors. I have emailed the directors twice, with no reply, on when the corporate

[bubbleworld]

I bet there will never be a corporate presentation ever again. They are probably trying to sell the company for a high enough price to be satisfied. Around half the book price, $250M and more than half going to the debt. $100M divided by 217.21M shares according to google) would be 46 cents a share. Not sure how the corporate world values the company. Maybe lower than this. Still, even 2000

[bubbleworld]

D'OH! There is an error in my chart, the 5Y Total line because I was originally trying to make a 10Y projection. My apologies. Here is a fixed one

[ofirme]

There is something wrong with your assumptions: waterflooding increases production (vs end of year 2)... If you assume that at the end of year two, you should have 30 bopd per well and that the next 12 month of  pressure build up will arrest the decline and reverse it towards 60 (closer to 80+, but lets assume...) you   will get different results. $60 netback is built on $90C price

[ofirme]

Also, do you take into account discount rate? I think your numbers are nominal. you should do NPV10 to   account for the cost of money. I will try to look for my spreadsheet that I did about the basic value of a well. I believe that I came up with   about $5M of NPV10 in four years on 80 wells (accounting for 25% converted after year two). If you assume that Pinecrest took