Valeura Energy Share Price (VLU)

hpsp. Good to see you're still keeping an interest and thanks for your other posts. Sorry for delayed reply but I've given minimal attention to bb's of late. Pointless engaging in most; I can't wait for the schools to re-open!

WEN was not on my radar but good luck to their pi's at the AGM. I gave up with Tanz many years back. Ophir, Aminex, Solo .... Good potentials but business-wise the Gov was, and still is imo, influenced by 'the African attitude'. Never spotted the WEN / VLU similarities before, even down to the Calgary / Norway / London listing connections and Chinese funded bulk gas pipelines. The Newlands may have the the cash but have they still got the desire? https://ukinvestormagazine.co.uk/touchstone-raises-cash-for-further-exploration/

I sincerely hope the BoD have some anti T/O defences in place as I share some of your concerns. Despite having US$33m in the bank, no debt and positive cash flow the sp is 90% down on 9 months ago and SG has done nothing to explain why or to reassure investors. He could have used the conf call more positively and, imo, should be on the attack.

Is Condor a possibility? From Stockhouse:
"Condor Petroleum NW Turkey GAS Assets Condor (CPI) have some excellent assets in NW Turkey which have been neglected for over 2 years due to debt liabilities and having a main focus elsewhere. These assets produced 770 boepd in 2018, reduced now to 150 boepd. Condor recently sold a major asset which has wiped out its debt, permitting it to develop its oil assets in the the East Asian States.
It would appear that its NW Turkey assets may be available. For the past 8 months, it has been looking for a farm-in partner to drill the Yakamoz 1 sidetrack well and a subsequent appraisal well in NW Turkey. Workovers of neglected wells and new drilling could boost production back to and perhaps above its previous level of 770 boepd ( gas and condensate ). Yakamoz sidetrack if successful, would double that.
Management has been urged by shareholders to put the cash to good use by seeking accretive acquisitions that would put substantial growth premium back into its production. Now, with Condor, on the cusp of launching its development program in its new oil focus but still needing cash to fund that development, might be very receptive to at least a JV or perhaps even to selling its NW Turkey assets."

I offer these thoughts with regards the trading patterns:
https://cmkxunofficial.proboards.com/thread/11552/short-selling-exposed-all
https://seekingalpha.com/instablog/11442671-gerald-klein/3096735-anatomy-of-a-short-attack

Naked shorting quite is legal on TSX. Valeura listed in London because that's where the money is and we have a European asset that sells exclusively to a European market. SG must, imo, exit the cowboy TSX and fully redomicile in London if VLU are to have any investor credibility.

Looking at Wentworth Resources yesterday, I noted that the companies were in a very similar position (except we have the 20tcf play in addition). The LSE WEN bulletin board gives you some of the shareholders concerns over the management, as I think we have here. This did not stop David and Monique Newlands taking 3% in WEN. Perhaps they are our large buyer?
Or perhaps it is someone setting up for a low-ball takeover which I mentioned in my previous post?
Any thoughts?

Since the results almost every reported trade has been a sell near 18p. But the MMs have not moved the price down. The MMs still make it difficult to buy at 19.9p. My guess is someone is quietly accumulating a significant amount at 19p.
Anyone else noticing this?

https://www.dailysabah.com/business/energy/lower-lng-prices-undermine-russias-natural-gas-pipeline-exports-to-turkey

Hi, earache - I took a more critical view on the results and conference call than you, and after a thorough reassessment, am now out until September - basically weak management, carrying gross BoD deadweight and employee largesse, no serious attempt to cut G&A, falling revenue, inadequate attempt to increase production, dislike acquisition strategy as not confident they will not overpay (imo SG is no Andrew Austin or Paul Blakeley), and in no hurry to get a partner.
I'm here for the cash, and the farm-out partner, then 20tcf Deep exploration. But now more concerned that a fitter, sharper, lot will take us out with a low ball offer before we get a partnership.
I'll probably buy back after the Q2 results when, hopefully, these matters will have been better addressed and we can then see the wood from the trees.
Good Luck.