RE: Unbelievable!Yes, in the perspective of what happened in early to mid 2008, the trading price for VRO as well as a lot of its peer group is indeed unbelievable.
A huge risk now is that VRO, CR, GO and others that have demonstrated reasonable ability to find and develop will be scooped at irrational pricing. Who has the cash? Well, figure TLM to be a buyer from the larger cap E&P side and well funded Trusts such as Enerplus. Also, TAQA leads the way from a sovereign fund point of view.
That will be a double tragedy as the very competent management teams will be broken up, unable to start again in this cash/equity desert.