VIRGINIA HILLS OIL CORP VFGGF

RE:Q3/Good times next week?

[snubbin954]

Not sure when financials will be out but don't expect any news til November to end their blackout period (Nov 10?).  WTI prices were well over 100 for the entire quarter so the insider news could be that they've paid down some debt with the higher revenue.  Of course, there's also room for a positive production update.  Either one could harden the support being formed here in the 50s with the insider buys.  PRY is very much a 'wait and see' story now, and waterfloods take a while to pay off as I understand it, so the chances of a merger or acquisition in the near future are probably low.  I do wonder if the buyback announcement was just a publicity stunt at this point, however, as I haven't seen much action from Cormark, but hope the company simply decided to put its cash to better use for now.