RE:RE:RE:RE:RE:RE:RE:RE:My take...The only story is 100% failure to date - that's up to date and why they have Zero partners in Turkey or Thailand where SG was last seen well over 15 years ago.
They did sell Thrace shallows for 50% less than appraised value, to a shady newco that had trouble coming up with the cash causing significant closing delays with zero liquidated damages, and likely held by VLE insiders via proxy.
Having sold over 300K shares in the $4-6 range I know the story well. DocPat wrote: Old news Lastworld .. Do you read 10 year old news papers too? This might explain a lot .. try and keep up to date Lasty.
The Today Story is this:
Total Shares: 86.59 million.
Raised +- $50 million dollars at over $5.00/share on the strength of the company at the time.
Divested of scaby natural gas assets to further cash up the company (Ya, the purchasers got lucky with price of natural gas, which nobody could have predicted).
Regained their entire interest in the Thrace when Statoil left the party. Think about it, VLE got 100 million dollars worth of work on their lands for free! Plus all of the 3-D Seismic and equipment and they learned a lot. Now, with all of the new data they have numerous other locations and a rational as to why these well will now be comercial. They await a partner.
Sean cut his teath in Thailand and the surrounding areas. This is his back yard and he did an exceptional acquistion that will bring the company north of 3000 bopd and with room for accretive growth.
Exploration targets identified, rig contracted.
Line of credit established which gives them the elbow room to do other acquisitions without issuing more share capital. Remember, only 86.59 million shares outstanding.
And they still have $20 Million dollars in the bank!
Now that's a STORY!! ))
DYODD
Doc.