RE:Fracking
IMO operational update smells fishy. Like you wrote they (VLE/Schlumberger) fracked only 13mm in vertical well and they´ve been waiting for fluid recovery more than month??? There is something wrong IMO, i´m not a specialist but what i learned from NA unconventional plays if a well wasn´t cleaned within 3-4 weeks after fracking - very very likely such well was duster/uneconomical - the main reason insufficient overpressure in shale. And if you take in consideration that these horizontals are much much bigger 5000-12000 feet long, so much more frac fluid, this tiny 13m frac, IMO it would/should/could be cleaned within 1-2 weeks.
Again i´m not a specialist, only an investor but i can´t trust what they wrote in PR. IMO VLE should focus their interest on shallow conventional plays there - look very promising and not waste their cash on exploration of unconventional plays with 7MM working capital. They are not unconventional guys, TAT are, but their CEO Malone and his family is a gang of crooks. Never invest in co. where CEO two times (!!) bought big stake in daughter service co. and this co. thereafter will drill/frac/complete wells for recently parent co. Biz model like MMT/Wade Cherwayeko...