First gas was well anticipated by the Market . When the Announcement finally came it was not a surprise and the Market did not really know anymore about the situation than before the Announcement . There was no reason for the Market to lift the price . Imo we will not see much of a lift in the SP until we get a quarterly that shows they have Free Cash flow so that forward development and exploration can at least partly be funded by Production Cashflow and not further equity raises .
As well there has been downward pressure on all East Coast gas producers because there is uncertainty how the new government regulations will affect profitability . Those regulations are still being finalized and probably will have little effect on VEN but the uncertainty still exists .
Not many small companies in the commodity space are doing very well at the moment either as commodity prices are slipping back for most .
Imo we will see an increase in prices but it will require a bit more patience.
VEN Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
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