RE:RE:VN Capital I can say that I have been in touch with VN Capital and totally support this move. It is absolutely ludicrous at best and corrupt at worst, what the Board is doing with this company.
The company has more than $45 million in cash ($38.2 million is earning 5% interest) + 1 Rig deployed making around $12 mil EBITDA a year + A cashflow positive small Canadian business with 65% margin + 45% interest in Team snubbing (worth minimum $10 mil) expanding into Alaska and the MENA region + Industrial real estate assets worth $4-5 mil + $130 mil of tax credits + 3 Rigs in deploy ready condition ($8 bil Papua LNG FID in early 2024, other drilling programs of PNG National O&G company) is selling for $ 54 million !!
Everyone knows that markets do act in-efficiently at times; however this is simply manipulation given how attractive the opportunity is. IMO the greatest storehouse of value in the TSX energy space. There is absolutely no way we should let Binnion and Cyrus run away with this. This mess will get resolved and when it does, this stock will explode.