TSXV:ART.H - Post by User
Post by
discern1on Jul 14, 2011 4:28pm
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Post# 18832816
Why did they state possibly?
Why did they state possibly?Vast is driving me crazy.
For a company that has always over promised and under delivered I find it odd that the press release was as following:
The partner group is having further discussions to consider the possibility to deepen the well an additional 200 to 250 meters subsequent to the completion of the current testing program.
It was this sentence that force my hand to sell most of my shares at a significant loss. Discussion, consider, possibility are not very comforting words to hear for an investor. The above release was from Groundstar, VST itself just said that they would possibly drill deeper.
If they were already planning to drill deeper, why are they in discussions? why would they release this information and cause significant panic?
I did not expect Alijiji to produce commercial rates of oil since the press releases were identical to the others.
furthermore, if VST did not drill deeper and does not come up with commercial oil as they drill deeper the company will be worth very little.
I wasn't prepared to lose everything on a company that might possibly drill deeper.
I realize that this is on my own head because I should have phoned IR and asked, however, either this management is completely incompetent (or their IR department), or this really was a planned raid of shares.