Lack of Interest (volume) in VLEThe lack of interest in this stock is directly related to the lack of interest for oil and gas stocks in general, added to the fact that VLE Mgt does almost nothing to promote the stock means we are again approaching the 52 week low of .345. Unless there are some positive drill results released soon, we may see a new low by year end with some tax loss selling since volume is so low. Be nice to see some news on the drilling soon, surely they have news on this first well, but VLE releases so little news, maybe they are planning one news released on both of these targets. Meanwhile stock drifts into obscurity.
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Late 2014 Osmancik discovery at Gurgen-1 on TBNG JV lands led to new Banarli strategy to pursue relatively shallow exploration of Osmancik and Mezardere formations on a 100% basis (2,700 to 3,700 m TD) & farm-out deeper basin-centered gas play (4,000+ m TD)
Acquired 152 km2 of new 3D seismic in Q2 2015
Spudded first exploration well Bati Gurgen-1 on Nov 10, 2015 (planned 2,700 m TD)
Plan to spud second exploration well Yayli-1 by mid-December (planned 2,700 m TD)
Bati Gurgen-1 and Yayli-1 wells expected to test play types 1 and 3
2016 work program and budget under development