VIRGINIA HILLS OIL CORP VFGGF

can somebody explain insider buying

[billyjoebob]

I don't understand . . . it happens over and over, insiders buy right into bad news.

[bonjovi501]

Not to sure why insiders buy into bad news except maybe an offer on the table. Our debt is close to 3X our market cap now and I am sure if we see Wade buying more shares here then we could see higher share prices. If Wade does not buy more shares here then look for a for sale sign. I talked to Wade about 5 months back and he was on edge and now I know why. To go from promising 6000boed to 2300boed

[leaf67]

I think they will get bought out...0.50-$1.00 range seems reasonable if that were to happen....crazy to sell at these prices. Do your own dd. leaf67

[tankingfrank]

nah this production is not worth what surge bought in SE sask.  if someone is willing to buy this company they should sell. otherwise it would be tough. wonder what the net back is on the current production.. pumping a lot of water i would imagine..

[bonjovi501]

I was just using the same metrics that SGY paid but remember SGY got a good deal for low decline property. It is a buyers market and Wade does have good friends at CPG who might help the poor guy out. I said we might get .50 but that could be high and more realistic is .42 and that should be a given. Unless there is more troubles then we know I think it should be safe. Where there is smoke there

[bonjovi501]

One more thing and that is the banks will be getting real nervous with the debt at 125 million while to market cap is around 50 million and falling. Reminds me of Torquay oil that went from $2.50 to .17 only difference is at least PRY has 2300boed production but 5X the debt..

[tankingfrank]

it is possible.. there is lots OIP but since it looks like wells are watering out, economics are poor. how long will the 2300 barrels of production stay up.

[Catalac]

Man this sucks, I've never been dupped this bad before. Lot of money gone.