RE:RE:RE:RE:VLE - next target $1.50 range."Actual Investors think in decades, not quarters" - First thing you see when you visit Ballie Gifford's website.
Does this sound to you like someone who will take a $400M offer for 10 TCF gas in a country with one of the highest netbacks in the world? Not to mention their 1P and 2P reserves in the shallows, millions in infrastruture and cash on hand? Also, pretty safe to say that 10 TCF is about to get an upgrade now that we are below 4000m and have more drilling to confirm the extent of the play. (12 TCF? 15?)
If any potential aquirer tries to build 10% position (8M shares) in the company to build support for a takeout and the price would quickly head to the $7-12 range.
You don't think that if Shell made a $5 offer that some other major wouldn't immediately say "Whoooo wait a minute here!".
Here's the deal. The shares trading at $2-$3 today don't matter. These are just day traders flipping the same shares back and forth, and back and forth. 5% of the company moving from one day trader's pocket to the next.
The big money is on the sideline. They want to know the facts before making a bid. Whoever ends up buying VLE has to be willing to dish out $10-$20B to develop it. They sure as heck want to make sure they know all the facts before spending $1-2B on buying VLE, because it's not $1-2B. It's $10-$20B that they are committing to with their new partner Equinor.
5% of the shareholders would vote yes to a $5 offer 95% would vote no.
VLE isn't desperate to sell you know. We are capitalized. Lots of time to find the right dance partner at the right price.
The only way we see $5 is geopolitical issues force us to sell out at a huge discount to net value.