TSXV:VER.H - Post by User
Comment by
Naamkaton Apr 10, 2011 5:46pm
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Post# 18411239
RE: Agreed
RE: AgreedWell, I recognize I have a bias given my earlier decision to cut and run till there was more visibility, but I have to say I wasn't surprised by a target of low $.20s. Before I saw that presentation (which I saved to amuse myself), I assumed a financing in the teens to mid-20s. So it was not out of line.
I mean, think about it? Why would some investors give VER 33-50% of 10s of thousands of hot acres for no reason other than a listing? A: Only if they ended up with the majority of the public company plus $20-25m drilling capital.
That implied something between 75-125m shares from $.15 to maybe high 20s. Or so I believed having invested in oil and gas for many years. I've never seen the team in control give something away for virtually nothing - they didn't get in the driver's seat behaving that way.
I suspect the deal is close - time to go drilling. But I have no special insight, so time will tell.
Regards,
Naamkat