Longford - Vast Merger
Management are the only one's to blame for this mess.
They have managed shareholder expectations miserably, with lack off transparency, lack of respect and most importantly lack of intergrity.
I was in both Vast & Longford and sold at a loss but have been keeping an eye on events.
Vast in my opinion failed because they chose to drill ion an enormous structure which was way too high up meaning that by the time they entered the reservoir's zones they run out of drill bit as it was too deep.
Longford was pumped up as if oil was already found and that Vast had aleady hit. Management again forced shareholders into thinking everything was alright and drilling in June/july was a formality.
Now they have investigations , need further funding and again investors are left in the dark as to what's next.
I remember Said & bharti so smug on Tv boasting about these riches and eventual merger of both Vast & Longford making them a perfect takeover target.
Now both stocks are at rock bottom and I guess now the only thing they can do is merge , package them up and sell the lot to a major or mid cap at a premium.
gd luck all