RE: De-risk25 Feb 2020 23:43
Hi earache,
I found this site only last week so I'm quite new to this site. I found Valeura energy (VLU) last November during an Oil and Gas conference in London and starting buying at 50.00p, 30p and some more in the current price of 22p. I will continue to buy even more at this price. I think its bottomed. I must also declare that I know the industry very well as I have been involved with a similar Canadian company listed on NYSE holding an executive role. Due to exploration success (i.e. 7 TCF of 2C certified conventional gas resource) I have seen shareholders make a ton of money when this company was aggressively taken over by one super major recently paying 67% premium on the closing price. Actually 2 supermajors bid and one outbid the other. But I must admit I have no experience with unconventional oil or gas wells. So when I came across VLU, it reminded me of the good times I had with my recent experience so after looking at a bit of data contained in the presentations on VLU website, I started buying immediately and even more when the price dropped further. Like I said, 10TCF estimate is a lot of resources, and its share price would be over GG5.000 if it was a conventional field. Partnership with EQNR was another main reason I invested in VLU, but now that they announce to exit, lets wait in see who will come on board to help out with completing the appraisal programs and commercialise the fields. Hopefully someone reputable comes along.
For me, this is the only forum I'm ever on, only because I'm invested in this company and want to follow the commentary etc. No other motive or interest thanks. I know the primary listing is TSX and London is secondary, and I trade in London only because its convenient with my broker. I think fundamentally VLU is quite sound with enough cash for exploration in the next 2 quarters with the possibility of adding a new partner, and that their producing business is self funding from its operations. So I'm happy to hold on to my shares.
Hope I have clarified myself on why I joined this forum and sorry if my brief participation a couple of days ago made you uneasy.