RE:RE:RE:RE:Anonymous I agree on many of your points Andy .. Two years of silence was a huge mistake .. Investors want to be informed and feel they are a part of the hunt for treasure .. especially with a Junior Exploration company like VLE.
I understand that they cannot tip their hand on deals that they are currently evaluating but to give us all a sense of the work that has been done they could tell us in general terms about the deals that they have evaluated and turned down. Turning down bad opportunities is likely even more important than closing on a good one. If you spend that money on a bad opportunity it's all over but the cryin'.
I also agree that management needs to be more alligned with the shareholders and there needs to be some serious fiscal belt tightening. I have outlined my recommendations in this regard in previous posts.
With that said, what we do not want to do is shove the existing Directors or Management out. The Directors have deep roots into the international oil industry and it is these deeps root from which the opportunities will likely come. The officers of the company are the technical team that is charged with evaluating the opportunites and Not making a mistake.
All the parts are there to make this a success but the burn rate is simply to high and finding the opportunity needs to happen soon.
Preserve capital by reducing salaries and eliminating director compensation. Reallign management by paying a portion of their reduced salaries in stock in the company bought out of the market. This should be the compensation package offered on the next review. Severence should be eliminated, they got that from the company over the past two years.
If any of the management is unwilling to continue on these terms then let them go.
in my view there is still an immense opportunity here but the officers and directors need to perform and they need to do it soon.
Doc.