VIRGINIA HILLS OIL CORP VFGGF

Quarterly Review S&P TSX Venture Index Dated July 11th

[bargnhillbilly]

Deletions, PRY - EGD I sure wouldn't call this good news. Where is management? As usual MIA Not a word! Just click on news it also gives some new additions. Is this the last nail in the coffin for Pinecrest? Deletion --------------------------------- Effective Monday July 21st!

[paulv652]

This post has been removed in accordance with Community Policy

[ofirme]

why would a deletion from an index be a nail in the coffin? The banks could make the company be sold, but I doubt they will. they could reduce the bank line  to an amount close to $115M (estimated debt left at end of q2) and by that, they could eliminate  the ability to drill new wells. that would allow the company to continue any ongoing waterflooding  and optimization without new

[bargnhillbilly]

First, Thanks for the reply. What does this mean for the stock? Is Pinecrest going to be listed on on a less favored index (being demoted) so to speak? If so, volume will pick up as the week goes on and price will go down. I'm just trying to get a handle on what is happening here. Why the silence from management. It looks to me like another haircut coming! I hope I'm WRONG!

[trivela]

This was an already antecipated event, kind of just a formality. Any institution that used to own the stock for index purposes has sold their shares long ago. In other words, other than the reputational effect, there is not much more to expect from the index exclusion announcement.

[bargnhillbilly]

Ok. So you see this as a nonevent. Monday the 21st should be a nonevent as well. I guess we are back to waiting for the next news release. Thanks for the replies.

[bargnhillbilly]

I think the latest drop and NEW low is because of losing this Venture Index. So far the selloff is going just as I feared. If connected to this deal it will go on till Monday July 21st. Not what any of us want to see happen but the point I was trying to make.