Ann: Alignment of interests in PRL 211 and ATP 2021, page-15

Also meant to add that I'm more into numbers than O&G knowledge, so don't expect too much on that front. But I do like to review what trades were made during the day - gives me an idea as to whether someone is playing with the SP (usually you find a inordinately, high number of 'low value' sales going through, say less than $500) or whether there have been big chunks taken during the day.

From a quick review of the trades that went through yesterday (166 in total for 3.7m units), there were 53 trades for less than $500. You could say they weren't retail, although you could argue that a small number were a carry over from an earlier trade, but nothing out of the ordinary.

What I did find was that 107 trades were for sales between $500 and $10k (around 71% of the 3.7m units traded). One larger trade for $45.3K (385K units), and 5 trades for sales between $10k and $25K. From the AGM presentation in Sept 21, it indicated that 70% of the share register was held by retail. That may have changed a little from the CR in Dec/Jan, but still predominantly retail.

So based on yesterdays trading I'd say retail still has hold of this stock and insto's haven't yet got involved - which is probably logical given the $83 Mkt Cap, if you ascribe to the theory that instos are limited to coy's with a >$100MC. Just another reason why VEN hasn't yet taken off, just yet.

Give it time and as they say 'Build it and they will come'.

yeah OK, I'm bored!!

J22