I think you are wrong with their reporting on this well as it is not being operated by VPE. So you really cant blame VPE. (yet).
Valid point, but it's interesting that no announcement was provided on West Florence on the 16th (Wed) and 22nd (Tue), then today (Mon). It's the Memorial Day long weekend in the US, so maybe that's the reason for the lack of reporting. However, I'd be very surprised if the drill crew didn't work over the weekend. Therefore, with their drill rate from last week, there should have gone through the target depth by now.
Secondly - assumptions are the mother of all fackups
Errr... sadly (for my investment), I think VPE is probably the bigger mother of that category although they keep reassuring the market that they are aiming to be a 200m market cap company by year end (since 2004!). To complete the joke, JK has even mentioned in his presentation that VPE could grow by acquisition! If I look back at the company, it has never ever made a cent. Unless he plans to buy another company with more hot air, their only other option is... surprise surprise.. to dilute the crapp out of the company.
If you're going to tell me to sell if I'm that unhappy, don't worry, I have started. I was part of the constant sellers at 20/20.5. I have bought up some options at 8 to 8.4 to replace those shares just in case a miracle happens to them - they find a reservoir that flows, and JK stops selling BS to the market and gain some respect.
I'm still have a significant exposure to this lot, but it won't stay that way for long. I used the money to buy AWE, PPP and AED - and guess what, they are in the green already - something I haven't seen with VPE for a while! :)
Good luck to all holders... 618
VPE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
