VIRGINIA HILLS OIL CORP VFGGF

Two Sides To Every Story

[bonjovi501]

thedaveoil.................states a lot of facts but should tell the other side of the story. Where is all that money they raised at $2.12??? Where is the 6000boed that was promised less then one year ago?? Sure .38 sounds good but so does .30 as someone knows something and it stinks. Be careful and average down when this forms a bottom. Might to early yet IMHO but could always buy 25% now and see how it goes. I am waiting for .30 and if it hits it hits if not then my other shares will benefit.

[ofirme]

I think I can reconcile the amount of money the company raised: The 75 wells the company drilled were as followed:  50 x $5.4M on average = $270M  25 x $3.4M on average = $85M                                              ------------            

[CaseyDucharme]

Thanks for the analysis - my waterflood numbers actually balance very closely with yours! I'll throw this in the air. Why does this company keep hedging??? If I want to hedge oil, I'll do it in my portfolio. Why are production numbers released quarterly instead of monthly??? Been in this industry for 2 decades and I don't get the "black box" mentality of this company. I

[ofirme]

You are right about the black box mentality and what it does to investors and their confidence  in the company.  The hedging is in order to have some control over future cashflow. I am sure it also helps the  banks in gathering confidence in their loan and reduces the interest rates. good luck to us shareholders.

[bonjovi501]

I predicted .30 many months back and now we are at .24 and close to being dead money. The writing was on the wall as Wade lost control long ago. Look for this to be sold for .20 or close to that. As for Daveoil...................hope you did not buy too many shares.