RE: RE: RE: vast opportunity? People have short memories. Vast is probably sitting on one of the most prolific and gargantuan oil finds in Kurdistan. While it is true that the company is in severe financial distress and needs funding to drill or take part in another drill it does not mean that there is no value in the concession. Indeed, simply because the find from the first well was non commercial everyone seems to be jumping on the bandwagon claiming the company is a goner, that the value of the play is non existent. I say rubbish.
VST has a very good chance of being another Gulf Keystone. My observation about the market is that it usually gets things wrong. When the cattle are moving one way the stars say another. I am accumulating as much as I can at this price. Sure they may have further dilution and sure, they may have to get very innovative in terms of financing another attempt, but as sure as the sun is going to rise tomorrow morning, such an attempt is forthcoming. Look at how everyone (the market) dumped on WZR after their first fiasco. Remember people, wildcat drilling only hits successfullly in something like 10% of the cases.
It may take even more than multiple attempts to successfuly hit but I believe hit they will. Admittedly they will need some help and support along the way but the challenge is not insurmoutable. Many are selling this play much to short and will rue the day they sold their shares at this level. Don't forget also that this was the first concession that Forbes got involved with when they had the pick of the litter. There were very good and logical reasons for that. Don't kid yourself, the big boys like Exxon , Genel etc. would give there eye teeth to get a hold of this and believe me it won't be disposed by Vast or/andNiko for peanuts. If you think otherwise I firly believe you have been suckered in by the herd mentality.